Case Summary
The plaintiff, an electronic incubator, seeks to recover a refundable seed loan from the defendants who failed to repay as agreed. The plaintiff claims an outstanding amount as of February 2022 and requests a decree for the recovery of this amount.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants to pay an amount of Rs.5,65,000/- with interest.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The unchallenged proof affidavit and documents satisfactorily proved the plaint claim.
The unchallenged proof affidavit and documents satisfactorily proved the plaint claim.
Judgment Evidence:
The suit is decreed directing the defendant to pay an amount of Rs.5,65,000/- with 12% interest per annum from 28-02-2022 to the date of suit. In default, the plaintiff is entitled to recover the decree amount from the defendant and from his assets.
Parties Involved
Plaintiffs
Maker Village, Kerala Technology and Infrastructure Zone, Kinfra Hi Tech park, Kalamassery (Age not specified years)
Kochi, Kerala – 683 603
Dr.Elizabeth Sherly (Age not specified years)
Defendants
M/s Wahoo Technologies private limited (Age not specified years)
36/1991, Bus Stand building, Kaloor, Kochi- 682 017
Manoj Madusoodhanan (Age not specified years)
33/2136 -A, Ammencheri Parambil, sreekala road, Vennala, Ernakulam – 682 028
Gifson Jame (Age not specified years)
Urulel house, Elavukkatu line, Kakkanad, Thrikkakara, Ernakulam – 682 021
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff sought to recover Rs. 5,65,000 with interest.
Evidence:
The suit is decreed directing the defendant to pay an amount of Rs.5,65,000/- (Rupees Five Lakhs Sixty Five Thousand only) with 12% interest per annum from 28-02-2022 to the date of suit and at a reasonable rate of 8% per annum from the date of the suit till the date of decree.
Relief Type:
Costs
Outcome:
Granted
Description:
The plaintiff is entitled to costs.
Evidence:
The plaintiff is also entitled to the costs.
Documents & Evidence
Document Type:
Seed Loan Agreement
Submitted By:
Plaintiff
Relevance:
The seed loan agreement establishes the terms under which the plaintiff provided funding to the defendants.
Reference:
Ext.A1
Document Type:
Personal guarantee agreement
Submitted By:
Plaintiff
Relevance:
The personal guarantee agreement signifies the defendants' commitment to repay the loan.
Reference:
Ext.A2
Document Type:
Current saving account statement
Submitted By:
Plaintiff
Relevance:
This document evidences the financial transactions relevant to the loan.
Reference:
Ext.A3
Document Type:
Current saving account statement
Submitted By:
Plaintiff
Relevance:
This document evidences the financial transactions relevant to the loan.
Reference:
Ext.A4
Document Type:
Legal Notice
Submitted By:
Plaintiff
Relevance:
This legal notice was sent to the 1st defendant regarding the repayment.
Reference:
Ext.A5
Document Type:
Legal Notice
Submitted By:
Plaintiff
Relevance:
This legal notice was sent to the 2nd defendant regarding the repayment.
Reference:
Ext.A6
Document Type:
Legal Notice
Submitted By:
Plaintiff
Relevance:
This legal notice was sent to the 3rd defendant regarding the repayment.
Reference:
Ext.A7