Case Summary
The Indian Overseas Bank filed a suit against Tony Sakaria and Ajayan G.S to recover a loan amount. The defendants failed to repay the loan, leading to the bank seeking recovery through legal means.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendants are directed to pay ₹2,14,144.54 with 6% interest per annum from the date of suit till the date of decree.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, ordering the defendants to pay the outstanding loan amount. The bank is entitled to recover the amount from the defendants' assets if they fail to comply.
Why Plaintiff Won:
The unchallenged proof affidavit and documents satisfied the court regarding the plaint claim.
The unchallenged proof affidavit and documents satisfied the court regarding the plaint claim.
Losing Side's Weaknesses:
The unchallenged proof affidavit and documents satisfied the court regarding the plaint claim.
The unchallenged proof affidavit and documents satisfied the court regarding the plaint claim.
Supporting Evidence
The unchallenged proof affidavit and documents would satisfactorily prove the plaint claim.
Judgment Evidence:
In the result, The suit is decreed directing the defendant to pay an amount of 2,14,144.54/- (Rupees Two lakhs Fourteen Thousand One hundred and Forty Four Rupees and Fifty four Paisa only) with 6% interest per annum from the date of suit till the date of decree.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Indian Overseas Bank
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Tony Sakaria
- Party Age
- 33
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Ajayan G.S alias Ayyappan
- Party Age
- 61
- Relation
- S/o
Plaintiffs Documents
A1 24.04.18 Credit sanction Advice, A2 24.04.18 Revised demand promissory note, A3 24.04.18 Letter of undertaking repayment in Installment, A4 24.04.18 Letter of Guarantee, A5 19.04.21 Revised letter, A6 30.01.24 Copy of the legal notice, A7 Postal receipts with acknowledgment cards and returned covers, A8 24.04.18 - Account statement issued by Indian Overseas Bank, Ernakulam – Kadavanthra along with certificate under the Bankers Book Evidence Act.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Jaykar K.S
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Remya Jaykar
- Appearance Type
- Assisting Counsel
- Party Role
- Plaintiff
- Advocate Name
- Srikala P.R
- Appearance Type
- Assisting Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff seeks to recover the outstanding amount due from the defendants.
Evidence:
The suit is decreed directing the defendant to pay an amount of 2,14,144.54/- (Rupees Two lakhs Fourteen Thousand One hundred and Forty Four Rupees and Fifty four Paisa only) with 6% interest per annum from the date of suit till the date of decree.
Documents & Evidence
Document Type:
Credit Sanction Advice
Submitted By:
Plaintiff
Relevance:
The document establishes the initial loan agreement.
Reference:
Ext.A1
Document Type:
Revised Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
The document outlines terms of repayment for the loan.
Reference:
Ext.A2
Document Type:
Letter of undertaking repayment in Installment
Submitted By:
Plaintiff
Relevance:
It signifies the borrower’s commitment to repay the loan in installments.
Reference:
Ext.A3
Document Type:
Letter of guarantee
Submitted By:
Plaintiff
Relevance:
This document provides assurance for the loan repayment by the guarantor.
Reference:
Ext.A4
Document Type:
Revised letter
Submitted By:
Plaintiff
Relevance:
This document updates any previous communications related to the loan.
Reference:
Ext.A5
Document Type:
Copy of the legal notice
Submitted By:
Plaintiff
Relevance:
The notice demands repayment from the defendants.
Reference:
Ext.A6
Document Type:
Postal receipts with acknowledgment cards and returned covers
Submitted By:
Plaintiff
Relevance:
These documents serve as proof of communication regarding the loan.
Reference:
Ext.A7
Document Type:
Account statement issued by Indian Overseas Bank, Ernakulam
Submitted By:
Plaintiff
Relevance:
The account statement details the loan account activity and outstanding balance.
Reference:
Ext.A8
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Recovery of money
Case Code
Case between Indian Overseas Bank vs Tony Sakaria et al regarding recovery of money
Case Code Year
Case between Indian Overseas Bank vs Tony Sakaria et al regarding recovery of money