Case Summary
Kerala Gramin Bank filed a suit against Saidalavi seeking realization of a loan amount with interest and penal charges due to default in repayment.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Realization of loan amount with interest and penal charges
Case Type
Civil Suit - Money Recovery
Final Judgment
No
Why Plaintiff Won:
Reason not clearly mentioned
Reason not clearly mentioned
Judgment Evidence:
In the result, the suit is decreed as follows: 1. Plaintiff is allowed to realise an amount of Rs.1,42,398/- with interest at the rate of 12% per annum compounded at monthly rests on Rs.1,40,828/- and a penal interest of 2% per annum on Rs.1,40,828/- from the date of suit till realisation from the defendants and their assets. 2. Plaintiff is entitled to realise the costs of the suit from the defendants.
Parties Involved
Plaintiffs
Kerala Gramin Bank (Age not specified years)
Defendants
Saidalavi (40 years)
Ayamon House, Tanalur
Reliefs
Relief Type:
Money Recovery
Outcome:
Granted
Description:
Realization of loan amount with interest and penal charges
Evidence:
In the result, the suit is decreed as follows: 1. Plaintiff is allowed to realise an amount of Rs.1,42,398/- with interest at the rate of 12% per annum compounded at monthly rests on Rs.1,40,828/- and a penal interest of 2% per annum on Rs.1,40,828/- from the date of suit till realisation from the defendants and their assets. 2. Plaintiff is entitled to realise the costs of the suit from the defendants.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Submission of loan application by the defendant to the bank.
Reference:
Ext.A1
Document Type:
Hypothecation Deed
Submitted By:
Plaintiff
Relevance:
Execution of Hypothecation Deed by the defendant in favor of the plaintiff bank.
Reference:
Ext.A2
Document Type:
Acknowledgement of Debt and Security
Submitted By:
Plaintiff
Relevance:
Execution of Acknowledgment of Debt and Security by the defendant acknowledging the loan liability.
Reference:
Ext.A3
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Statement of accounts showing the amount due from the defendant to the plaintiff bank.
Reference:
Ext.A4