Case Summary
Kerala Gramin Bank filed a suit against Sreeraj.P for recovery of a loan amount. The defendant had availed a vehicle loan but defaulted on repayments, leading to the bank seeking to recover the dues.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant is directed to pay an amount of ₹23,12,300 to the plaintiff.
Case Type
Commercial Suit
Final Judgment
No
The court decreed that Sreeraj.P is liable to pay Kerala Gramin Bank an amount of ₹23,12,300 along with interest. The plaintiff's claims were substantiated through evidence presented in court.
Why Plaintiff Won:
The plaintiff proved that the defendant defaulted on a loan availed from the bank.
The plaintiff proved that the defendant defaulted on a loan availed from the bank.
Losing Side's Weaknesses:
The plaintiff proved that the defendant defaulted on a loan availed from the bank.
The plaintiff proved that the defendant defaulted on a loan availed from the bank.
Supporting Evidence
Exhibits A1 to A9 documentary evidence and the specific admission made by the defendant in the written statement proved that the defendant had availed 6,50,000/- from the plaintiff bank for purchasing the Mahindra vehicle and he had executed Exhibit A1 hypothecation agreement at that time in favour of the plaintiff bank.
Judgment Evidence:
In the light of the findings under Issue No.1, the suit is decreed as follows: 1.Defendant is directed to pay an amount of 23,12,300/- (Rupees twenty three lakh twelve thousand three hundred only) to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Kerala Gramin Bank
- Relation
- Rep. By its Manager
- Party Role
- Defendant
- Party Name
- Sreeraj.P
- Party Age
- 41
- Relation
- S/o
Plaintiffs Documents
Deed of hypothecation regarding vehicles, Acknowledgment of debt and security of Borrower, Statement of account.
Defendants Documents
RC of vehicle No. KL 11 AN-875, Contract Carriage permit issued by Motor Vehicle department, Letter issued by defendant to Plaintiff bank.
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. Joby Thadathil
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Smt. Rose Mary Robert
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Sri. E.T. Jitheendran
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendant is directed to pay ₹23,12,300/- to the plaintiff.
Evidence:
Accordingly point number 1 is answered in favour of the plaintiff.
Relief Type:
Interest
Outcome:
Granted
Description:
The plaintiff will be entitled for interest at the rate of 6% per annum from the date of the suit till realisation of the decree.
Evidence:
The plaintiff will be entitled for interest at the rate of 6% per annum from the date of the suit till realisation of the decree.
Relief Type:
Costs
Outcome:
Granted
Description:
The plaintiff will be entitled for costs of the suit.
Evidence:
The plaintiff will be entitled for costs of the suit.
Documents & Evidence
Document Type:
Deed of Hypothecation regarding Vehicles
Submitted By:
Plaintiff
Relevance:
Executed by the defendant while availing loan amount of ₹6,50,000/- for purchasing a Mahindra vehicle.
Reference:
Ext.A1
Document Type:
Annexure to Deed of Hypothecation regarding vehicles
Submitted By:
Plaintiff
Relevance:
Annexure to the hypothecation agreement.
Reference:
Ext.A2
Document Type:
Undertaking letter issued by the defendant
Submitted By:
Plaintiff
Relevance:
An undertaking letter related to the loan agreement.
Reference:
Ext.A3
Document Type:
Intimation of terms and conditions of the loan sanctioned
Submitted By:
Plaintiff
Relevance:
Details the terms under which the loan was sanctioned.
Reference:
Ext.A4
Document Type:
Acknowledgment of Debt and Security of Borrower and Guarantor
Submitted By:
Plaintiff
Relevance:
Acknowledgment signed by the defendant confirming the debt.
Reference:
Ext.A5
Document Type:
Acknowledgment of debt and security of Borrower Co-obligant
Submitted By:
Plaintiff
Relevance:
Acknowledgment signed by the defendant confirming the debt.
Reference:
Ext.A6
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Acknowledgment dated 22.02.2019 admitting the debt.
Reference:
Ext.A7
Document Type:
Acknowledgment of debt and security of borrower
Submitted By:
Plaintiff
Relevance:
Acknowledgment dated 08.11.2021 admitting the debt.
Reference:
Ext.A8
Document Type:
Statement of account for the period
Submitted By:
Plaintiff
Relevance:
Statement showing the outstanding balance of ₹23,12,300/-.
Reference:
Ext.A9
Document Type:
RC of vehicle
Submitted By:
Defendant
Relevance:
Registration Certificate for the vehicle hypothecated.
Reference:
Ext.B1
Document Type:
Contract Carriage permit
Submitted By:
Defendant
Relevance:
Permit for operating the vehicle as a taxi.
Reference:
Ext.B2
Document Type:
Letter issued by defendant to Plaintiff bank
Submitted By:
Defendant
Relevance:
Correspondence regarding the loan.
Reference:
Ext.B3
Document Type:
Tax Invoice
Submitted By:
Defendant
Relevance:
Invoice related to the vehicle.
Reference:
Ext.B4
Document Type:
Photographs
Submitted By:
Defendant
Relevance:
Visual documentation related to the case.
Reference:
Ext.B5
Case Classification
Case Type
Commercial Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Commercial Court Kozhikode
Common Reasons
Recovery of money
Case Code
Case between Kerala Gramin Bank vs Sreeraj.P regarding realisation of amount from the defendant.
Case Code Year
Case between Kerala Gramin Bank vs Sreeraj.P regarding realisation of amount from the defendant.