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
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.
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
Plaintiffs
Indian Overseas Bank (Age not specified years)
Kadavanthra Branch, Madaparambil Building, K.P.Vallon road, Kadavanthra, Ernakulam – 682 020
Defendants
Tony Sakaria (33 years years)
Parathodath house, AKG Nagar, May 1st Road, Thammanam, Ernakulam – 682 032
Ajayan G.S alias Ayyappan (61 years years)
House No. VI, Ponmanai, Near Canal Bridge, Ponmanai P.O, Kanyakumari, Tamil Nadu – 629 161
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