Case Summary
KPB Nidhi Ltd. filed a suit against Bipin P and others for the recovery of money related to a gold loan transaction. The plaintiff claims that the defendants fraudulently withdrew money intended for settling a loan.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants No. 1 to 3 are directed to pay an amount of ₹21,19,000 with interest.
Case Type
Commercial Suit
Final Judgment
No
The court found in favor of the plaintiff, directing defendants No. 1 to 3 to jointly and severally pay the claimed amount.
Why Plaintiff Won:
The defendants failed to file their written statement within the stipulated period and could not prove their case.
The defendants failed to file their written statement within the stipulated period and could not prove their case.
Losing Side's Weaknesses:
The defendants failed to file their written statement within the stipulated period and could not prove their case.
The defendants failed to file their written statement within the stipulated period and could not prove their case.
Supporting Evidence
By not filing the written statement within the stipulated period, they have lost their right to adduce evidence.
Judgment Evidence:
In the result, suit is decreed as follows: Defendants No. 1 to 3 are jointly and severally directed to pay an amount of ₹21,19,000 (Rupees twenty one lakhs and nineteen thousand only) to the plaintiff with 9% interest from the date of suit till date of decree and thereafter at 6% per annum till realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- KPB Nidhi Ltd.
- Party Role
- Defendant
- Party Name
- Bipin P
- Party Age
- 40
- Relation
- S/o.Viswanathan P
- Party Role
- Defendant
- Party Name
- Ranjith M
- Party Age
- 42
- Relation
- S/o.Rajan
- Party Role
- Defendant
- Party Name
- Midhun
- Party Age
- 40
- Relation
- S/o.Muraleedharan
- Party Role
- Defendant
- Party Name
- Manager, Bank of India
- Party Role
- Defendant
- Party Name
- Chathamkandathil Finance
Plaintiffs Documents
Copy of application for gold loan facility, Demand promissory note, Copy of complaint filed by plaintiff before SHO Kasaba P.S.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri.M.P.Radhakrishnan
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Sri.Ramakrishnan V.R
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Smt.Asha Antony
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Sri.Dilkush V.R
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Smt.Benazeera K.P
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover the amount of 21,19,000/- from defendants No. 1 to 3.
Evidence:
Hence, from the above discussion it is clear that defendant No.1 did not clear the gold loan liability with defendant No.5 and further failed to deposit the gold ornaments with defendant No.1 even after receiving an amount of 21,19,000/- from defendant No.1.
Relief Type:
Interest
Outcome:
Granted
Description:
The plaintiff is granted 9% interest from the date of suit till date of decree and thereafter at 6% per annum till realization.
Evidence:
Defendants No. 1 to 3 are jointly and severally directed to pay an amount of 21,19,000/- (Rupees twenty one lakhs and nineteen thousand only) to the plaintiff with 9% interest from the date of suit till date of decree.
Documents & Evidence
Document Type:
Authorized document
Submitted By:
Plaintiff
Relevance:
Copy of authorisation by company authority Vipeesh M to conduct the case
Reference:
Ext.A1
Document Type:
Articles of Association
Submitted By:
Plaintiff
Relevance:
Articles of Association of KPB Nidhi Ltd.
Reference:
Ext.A2
Document Type:
Memorandum of Association
Submitted By:
Plaintiff
Relevance:
Copy of memorandum of association of KPB Nidhi Ltd.
Reference:
Ext.A3
Document Type:
Pawn Ticket
Submitted By:
Plaintiff
Relevance:
Certified copy of pawn ticket showing pledge No.53/23, 54/23 and 55/23
Reference:
Ext.A4
Document Type:
Application for gold loan
Submitted By:
Plaintiff
Relevance:
Copy of application for gold loan facility
Reference:
Ext.A5
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
Copy of Demand promissory note
Reference:
Ext.A6
Document Type:
Letter to Branch Manager
Submitted By:
Plaintiff
Relevance:
Copy of letter issued by D1 addressed to Branch Manager ICICI Kallai Branch
Reference:
Ext.A7
Document Type:
Police Receipt
Submitted By:
Plaintiff
Relevance:
Original receipt issued by Sub Inspector of Police Kasaba P.S
Reference:
Ext.A8
Document Type:
Complaint to Police
Submitted By:
Plaintiff
Relevance:
Certified copy of complaint filed by plaintiff before SHO Kasaba P.S
Reference:
Ext.A10
Document Type:
FIR
Submitted By:
Plaintiff
Relevance:
Certified copy of FIR registered against defendants
Reference:
Ext.A11
Document Type:
Direction by Police
Submitted By:
Plaintiff
Relevance:
Copy of direction by the SHO, Kasaba P.S to branch head Bank of India
Reference:
Ext.A12
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Copy of lawyer notice issued to D1 to D3 by plaintiff counsel
Reference:
Ext.A13
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
Certified copy of statement of account showing the transfer of amount
Reference:
Ext.A17
Document Type:
Email to Bank
Submitted By:
Plaintiff
Relevance:
Copy of e-mail sent to Bank of India from ICICI Bank
Reference:
Ext.A21
Document Type:
Complaint to Police
Submitted By:
Plaintiff
Relevance:
Certified copy of complaint addressed to SHO Elathur P.S by D1
Reference:
Ext.A22
Case Classification
Case Type
Commercial Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Commercial Court Kozhikode
Common Reasons
Non-payment of rent
Case Code
Case between KPB Nidhi Ltd. vs Bipin P et al regarding realization of money
Case Code Year
Case between KPB Nidhi Ltd. vs Bipin P et al regarding realization of money