Case Summary
The plaintiff, Indian Overseas Bank, is seeking to recover an outstanding amount from the defendants, M/s. Oasis Life Solutions and Sinimol K P, who defaulted on multiple loans. A default notice was issued but went unserved, leading to the suit.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Plaintiff is entitled to realize Rs. 8,67,769.90/- along with interest and costs of the suit from the defendants and their assets.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The unrebutted oral testimony of the plaintiff's witness established the case as pleaded by the plaintiff, with no countervailing evidence from the defendants.
The unrebutted oral testimony of the plaintiff's witness established the case as pleaded by the plaintiff, with no countervailing evidence from the defendants.
Judgment Evidence:
In the result, suit is decreed as follows: 1. Plaintiff is entitled to realize Rs. 8,67,769.90/-... 4.Plaintiffs are entitled to realize costs of the suit from defendants and from their assets.
Parties Involved
Plaintiffs
Indian Overseas Bank (Age not specified years)
Tripunithura Branch, 95 A, Parapuram Building, East Fort Gate, Main Road, Ernakulam - 682 016
Defendants
M/s. Oasis Life Solutions (Age not specified years)
TMCX/288C, Office No:3, Revathy Building, Eroor Road, Tripunithura Eroor South P O, Ernakulam - 682 306
Sinimol K P (44 years)
B3, Pankaj Residency, Eroor Road, Eroor South P.O., Tripunithura, Ernakulam -682 306
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to realize Rs. 8,67,769.90 from the defendants.
Evidence:
In the result, suit is decreed as follows: 1. Plaintiff is entitled to realize Rs. 8,67,769.90/-.
Relief Type:
Interest
Outcome:
Granted
Description:
Plaintiff is entitled to realize interest @ 10% per annum from the date of suit.
Evidence:
2. Plaintiff is entitled to realize interest @ 10% per annum for Rs. 8,67,769.90/-.
Relief Type:
Interest
Outcome:
Granted
Description:
Plaintiff is entitled to realize interest @ 6% per annum from the date of decree.
Evidence:
3. Plaintiffs are entitled to realize interest @ 6% per annum for Rs. 8,67,769.90/-.
Relief Type:
Cost
Outcome:
Granted
Description:
Plaintiffs are entitled to realize costs of the suit.
Evidence:
4. Plaintiffs are entitled to realize costs of the suit from defendants.
Documents & Evidence
Document Type:
Credit Sanction Advice
Submitted By:
Plaintiff
Relevance:
Original credit sanction advice dated 25.01.2019.
Reference:
Ext.A1
Document Type:
Letter of Hypothecation
Submitted By:
Plaintiff
Relevance:
Original letter of hypothecation dated 25.01.2019.
Reference:
Ext.A2
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Original demand promissory note dated 25.01.2019.
Reference:
Ext.A3
Document Type:
Credit Sanction Advice
Submitted By:
Plaintiff
Relevance:
Original credit sanction advice dated 06.08.2020.
Reference:
Ext.A4
Document Type:
Term Loan Agreement and Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Original term loan agreement and hypothecation agreement dated 06.08.2020.
Reference:
Ext.A5
Document Type:
Revised Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Original revised demand promissory note dated 06.08.2020.
Reference:
Ext.A6
Document Type:
Credit Sanction Advice
Submitted By:
Plaintiff
Relevance:
Original credit sanction advice dated 29.06.2021.
Reference:
Ext.A7
Document Type:
Credit Sanction Advice
Submitted By:
Plaintiff
Relevance:
Original credit sanction advice dated 18.03.2022.
Reference:
Ext.A8
Document Type:
Letter of Hypothecation
Submitted By:
Plaintiff
Relevance:
Original letter of hypothecation dated 18.03.2022.
Reference:
Ext.A9
Document Type:
Revised Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Original revised demand promissory note dated 18.03.2022.
Reference:
Ext.A10
Document Type:
Revised Letters
Submitted By:
Plaintiff
Relevance:
Original revised letters dated 15.01.2022 and 19.07.2023.
Reference:
Ext.A11
Document Type:
Loan recall notice
Submitted By:
Plaintiff
Relevance:
Office copy of lawyer’s loan recall notice dated 20.09.2023.
Reference:
Ext.A12
Document Type:
Postal Covers and Receipts
Submitted By:
Plaintiff
Relevance:
Returned post covers along with postal receipts.
Reference:
Ext.A13
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Printout of the statement of accounts along with certification under the Bankers Book Evidence Act.
Reference:
Ext.A14