Case Summary
The plaintiff, M/s. Matrix Finbiz Pvt. Ltd, is seeking to recover a loan amount from the defendants who defaulted on the payments. The defendants, including Nishamol E M and others, dispute the claim citing various reasons including hardships faced due to natural calamities.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendants are directed to pay the amount of Rs. 1,58,900/- along with 9% interest per annum from the date of suit till the date of decree.
Case Type
Civil Suit
Final Judgment
No
The court ruled in favor of the plaintiff, decreeing the suit for recovery of the outstanding loan amount along with interest and costs. The defendants were ordered to pay a total amount due including interest.
Why Plaintiff Won:
The plaintiff successfully proved the execution of the loan agreement and the defendants' default in payments.
The plaintiff successfully proved the execution of the loan agreement and the defendants' default in payments.
Losing Side's Weaknesses:
The plaintiff successfully proved the execution of the loan agreement and the defendants' default in payments.
The plaintiff successfully proved the execution of the loan agreement and the defendants' default in payments.
Supporting Evidence
The plaintiff has satisfactorily shown that after deducting instalments paid, an amount of 1,56,000/- remains due. This issue is answered in favour of the plaintiff.
Judgment Evidence:
In the result, the suit is decreed with costs as follows: The defendants are hereby directed to pay the amount of Rs. 1,58,900/- along with 9% interest per annum from the date of suit till the date of decree and with future interest at the rate of 6% per annum, till realisation.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- M/s. Matrix Finbiz Pvt. Ltd
- Relation
- Representation
- Party Role
- Defendant
- Party Name
- Nishamol E M
- Party Age
- 32
- Relation
- W/o
- Party Role
- Defendant
- Party Name
- Beenamol K
- Party Age
- 52
- Relation
- W/o
- Party Role
- Defendant
- Party Name
- Abduljaleel E M
- Party Age
- 28
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Bilal A M
- Party Age
- 35
- Relation
- S/o
Plaintiffs Documents
Demand Promissory note, Loan Agreement No.TL 213/2017, Office copy of the Lawyer notice, Resolution extract, Copy of Non-banking Certificate of Registration.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- T V Eldho
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Blesson Antony
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Biju D Nair
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff sought recovery of the outstanding loan amount.
Evidence:
The defendants are hereby directed to pay the amount of Rs. 1,58,900/- along with 9% interest per annum from the date of suit till the date of decree.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff sought costs of the suit.
Evidence:
Since the plaintiff has succeeded in proving its claim, it is entitled to costs as per law.
Documents & Evidence
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
This document was essential to establish the loan agreement and the defendants' obligations.
Reference:
Ext.A1
Document Type:
Loan Agreement
Submitted By:
Plaintiff
Relevance:
This document outlines the terms of the loan including the amount and interest rate.
Reference:
Ext.A2
Document Type:
Office copy of the lawyer notice
Submitted By:
Plaintiff
Relevance:
This document was used to show that statutory notices were issued to the defendants.
Reference:
Ext.A3
Document Type:
Resolution Extract
Submitted By:
Plaintiff
Relevance:
These documents were used to show that the Manager was authorized to represent the company.
Reference:
Ext.A5, A6
Document Type:
Copy of Non-banking Certificate of Registration
Submitted By:
Plaintiff
Relevance:
This document was relevant to establish the plaintiff's legal standing as a non-banking financial institution.
Reference:
Ext.A7
Document Type:
Copy of personal ledger
Submitted By:
Plaintiff
Relevance:
This document provides details of the payments made and outstanding amounts.
Reference:
Ext.A8
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Perumbavoor
Common Reasons
Recovery of money
Case Code
Case between M/s. Matrix Finbiz Pvt. Ltd vs Nishamol E M et al regarding recovery of loan amount.
Case Code Year
Case between M/s. Matrix Finbiz Pvt. Ltd vs Nishamol E M et al regarding recovery of loan amount.
Case Flags
Cheque-Related Case
Nature of Cheque Case
Cheque issued towards legally enforceable debt