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
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.
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
Plaintiffs
The Karnataka Bank Ltd (Age not specified years)
Mahaveera Circle, P B No. 599 Kankanady, Mangalore- 575002
Defendants
Chackochan M J (Age not specified years)
House No. 31/707, Mukkath House, Kachapilly Road, Vyttila P O, Ernakulam, Pin- 682019
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