Case Summary
The Karnataka Bank Ltd is suing Chackochan M J for failure to repay a loan taken to purchase a vehicle. The court found the defendant liable for the outstanding amount.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant shall pay Rs.1,29,493.54/- along with interest @12% per annum from the date of suit till the date of decree and @6% from the date of decree till the date of payment.
Case Type
Civil Suit
Final Judgment
No
The court ordered the defendant to pay the plaintiff a total of Rs.1,29,493.54/- with specified interest rates for the delayed payment.
Why Plaintiff Won:
Plaintiff established the case with ample documentation and evidentiary support to claim the outstanding dues.
Plaintiff established the case with ample documentation and evidentiary support to claim the outstanding dues.
Losing Side's Weaknesses:
Not available
Not available
Supporting Evidence
On perusal of the plaint, proof affidavit, and documents produced, I am of the view that plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.1,29,493.54/- with interest from defendant.
Judgment Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.1,29,493.54/- along with interest @12% per annum from the date of suit till the date of decree and @6% from the date of decree till the date of payment or realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- The Karnataka Bank Ltd
- Party Role
- Defendant
- Party Name
- Chackochan M J
- Relation
- S/o
Plaintiffs Documents
Credit Sanction Intimation dated 01.06.2015, Term Loan Agreement dated 04.06.2015, Hypothecation Agreement dated 06.06.2015, Letter of acknowledgment of debt dated 09.05.2018, Statement of accounts relating to Vehicle Loan.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- K P Sujesh Kumar
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Keerthi K Narayan
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Shalu S
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Aswin B
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Jeevan Joy
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Muhammed Musthafa A
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff sought the recovery of loan amounts.
Evidence:
Plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.1,29,493.54/- with interest from defendant.
Relief Type:
Injunction
Outcome:
Granted
Description:
Defendant to pay interest on the outstanding amount.
Evidence:
Defendant is directed to pay interest at the rate of 12% per annum from the date of suit till the date of decree and 6% from the date of decree till the date of payment or realization.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff entitled to recover costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Credit Sanction Intimation
Submitted By:
Plaintiff
Relevance:
Issued to inform about the sanction of credit for the loan.
Reference:
Ext.A1
Document Type:
Term loan agreement
Submitted By:
Plaintiff
Relevance:
Executed by the defendant to confirm the terms of the loan.
Reference:
Ext.A2
Document Type:
Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Executed to secure the loan against the purchased vehicle.
Reference:
Ext.A3
Document Type:
Registration Certificate
Submitted By:
Plaintiff
Relevance:
Proof of vehicle registration linked to the hypothecation.
Reference:
Ext.A4
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
A letter confirming the defendant's acknowledgment of the debt.
Reference:
Ext.A5
Document Type:
Credit Sanction Intimation
Submitted By:
Plaintiff
Relevance:
Issued for the restructuring of the loan on a later date.
Reference:
Ext.A6
Document Type:
Term loan agreement
Submitted By:
Plaintiff
Relevance:
New agreement reflecting the restructured loan terms.
Reference:
Ext.A7
Document Type:
Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
New hypothecation agreement related to the restructured loan.
Reference:
Ext.A8
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Another acknowledgment from the defendant regarding outstanding debt.
Reference:
Ext.A9
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Document detailing the account history for the vehicle loan.
Reference:
Ext.A10
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Document detailing the account history for the second vehicle loan.
Reference:
Ext.A11
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Non-payment of rent
Case Code
Case between The Karnataka Bank Ltd vs Chackochan M J regarding realization of money
Case Code Year
Case between The Karnataka Bank Ltd vs Chackochan M J regarding realization of money