Case Summary
Kerala Gramin Bank filed a suit against Arathi. A K. and others to recover a loan amount of Rs. 11,41,315/- along with interest. The defendants claim the loan agreement was fabricated and challenge the interest rate.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants to pay Rs. 11,41,315/- with interest and costs.
Case Type
Civil Suit
Final Judgment
No
The court ruled in favor of the plaintiff, ordering the defendants to pay Rs. 11,41,315/- with interest and costs. The defendants were found liable for the loan amount.
Why Plaintiff Won:
The court found sufficient evidence of the loan agreement and acknowledgments of debt.
The court found sufficient evidence of the loan agreement and acknowledgments of debt.
Losing Side's Weaknesses:
The court found sufficient evidence of the loan agreement and acknowledgments of debt.
The court found sufficient evidence of the loan agreement and acknowledgments of debt.
Supporting Evidence
Ext A1 and Ext A2 proves that the first and second defendants had indeed availed a loan for a sum of Rs 4,00,000/- from the plaintiff bank, and that the third defendant had stood as guarantor for the loan.
Judgment Evidence:
In view of the finding on the first, second and third issues, it is hereby ordered that the defendants do pay to the plaintiff the sum of Rs 11,41,315/- (Rupees Eleven Lakhs Forty One Thousand Three Hundred and Fifteen Only) with interest thereon at the rate of 9% per annum from the date of suit till this day and with interest thereon at the rate of 6% per annum from this day till the date of realisation of the said sum and do also pay the cost of the suit.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Kerala Gramin Bank
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Arathi. A K.
- Party Age
- 26
- Relation
- D/o
- Party Role
- Defendant
- Party Name
- Pushpa. V.K
- Party Age
- 49
- Relation
- W/o
- Party Role
- Defendant
- Party Name
- Sreedharan.N.P
- Party Age
- 65
- Relation
- S/o
Plaintiffs Documents
Agreement for Education Loan, Guarantee Agreement, Agreement for Interest Subsidy, Letter to be obtained from student on attaining majority, Acknowledgment of debt, Account Statement
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. P.P. Sasidharan
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Sri. K. Ramachandran
- Appearance Type
- Assisting Counsel
- Party Role
- Defendant
- Advocate Name
- Sri. N.K. Viswanadhan
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Ordered that the defendants do pay to the plaintiff the sum of Rs 11,41,315/- with interest.
Evidence:
It is hereby ordered that the defendants do pay to the plaintiff the sum of Rs 11,41,315/- with interest thereon at the rate of 9% per annum from the date of suit till this day.
Documents & Evidence
Document Type:
Agreement for Education Loan
Submitted By:
Plaintiff
Relevance:
Proves that the first and second defendants had indeed availed a loan for a sum of Rs 4,00,000/- from the plaintiff bank.
Reference:
Ext.A1
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Demonstrates that the third defendant had executed it as a guarantor.
Reference:
Ext.A2
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Acknowledged that a sum of Rs 7,40,183/- exclusive of interest is due and outstanding.
Reference:
Ext.A5
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
Shows the amount due from the defendants as on 11/5/23.
Reference:
Ext.A6
Document Type:
Letter to be obtained from student on attaining majority
Submitted By:
Plaintiff
Relevance:
Contains the signature of the first defendant and is relevant to the case.
Reference:
Ext.A4
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Commercial Court, Koyilandy
Common Reasons
Recovery of money
Case Code
C.S.
Case Code Year
2023