Case Summary
The Karnataka Bank Ltd. filed a suit for recovery of money against Suma Raveendran and Raveendran due to unpaid vehicle loan installments. The defendants defaulted on their payments, leading the bank to classify the loan as a Non-Performing Asset.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Amount of ₹48,571.96 with 6% interest per annum
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, directing the defendants to pay an amount of ₹48,571.96 with interest. The plaintiff is also entitled to costs.
Why Plaintiff Won:
The defendants failed to regularize their loan account despite multiple reminders from the plaintiff.
The defendants failed to regularize their loan account despite multiple reminders from the plaintiff.
Losing Side's Weaknesses:
The defendants failed to regularize their loan account despite multiple reminders from the plaintiff.
The defendants failed to regularize their loan account despite multiple reminders from the plaintiff.
Supporting Evidence
The unchallenged proof affidavit and documents would satisfactorily prove the plaint claim.
Judgment Evidence:
The suit is decreed directing the defendant to pay an amount of 48,571.96/- (Rupees Fourty Eight Thousand Five Hundred and Seventy One and paisa Ninety Six only) with 6% interest per annum from the date of suit till the date of decree.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- The Karnataka Bank Ltd.
- Party Role
- Defendant
- Party Name
- Suma Raveendran
- Relation
- W/o
- Party Role
- Defendant
- Party Name
- Raveendran
- Relation
- S/o
Plaintiffs Documents
Credit sanction dated 30.10.18, Hypothecation Agreement executed by the defendant, Undertaking to Hypothecate the vehicle executed by the defendants, Demand promissory note, Delivery notice issued to the Branch Manager Karnataka Bank Ltd., Letter of Acknowledgment of debt dated 25.10.21, Statement of Account certified under the Banker’s Book of Evidence Act dated 28.02.23.
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
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff seeks to recover the amount due along with interest.
Evidence:
The suit is decreed directing the defendant to pay an amount of 48,571.96/- (Rupees Fourty Eight Thousand Five Hundred and Seventy One and paisa Ninety Six only) with 6% interest per annum from the date of suit till the date of decree.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff is entitled to recover costs related to the suit.
Evidence:
The plaintiff is also entitled to the costs.
Documents & Evidence
Document Type:
Credit Sanction
Submitted By:
Plaintiff
Relevance:
Proves the financial assistance sanctioned to the first defendant for the vehicle loan.
Reference:
Ext.A1
Document Type:
Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Documents the agreement executed by the defendant to hypothecate the vehicle as security for the loan.
Reference:
Ext.A2
Document Type:
Undertaking to Hypothecate the vehicle
Submitted By:
Plaintiff
Relevance:
Details the undertaking by the defendants regarding the hypothecation of the vehicle.
Reference:
Ext.A3
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Serves as a formal promise to pay back the loan amount.
Reference:
Ext.A4
Document Type:
Delivery notice
Submitted By:
Plaintiff
Relevance:
Notice issued to the Branch Manager regarding the delivery of the vehicle.
Reference:
Ext.A5
Document Type:
Letter of acknowledgment of debt
Submitted By:
Plaintiff
Relevance:
Acknowledgment by the defendants admitting their liability.
Reference:
Ext.A6
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Shows the financial details and outstanding amount due from the defendants.
Reference:
Ext.A7
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 The Karnataka Bank Ltd. vs Suma Raveendran et al regarding recovery of money
Case Code Year
Case between The Karnataka Bank Ltd. vs Suma Raveendran et al regarding recovery of money