Case Summary
M/s Punjab National Bank filed a suit against Ann Jose for the realization of a loan amount of Rs. 7,45,388.36 after the defendant defaulted on the payment. The bank claims that the defendant does not dispute the amount owed but has raised issues regarding the classification of the account as NPA.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant shall pay Rs. 7,45,388.36 along with interest @ 12.70% from the date of suit till the date of decree and 6% from the date of decree till payment.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff proved the loan was sanctioned and not repaid, and the documentation supports their claim.
The plaintiff proved the loan was sanctioned and not repaid, and the documentation supports their claim.
Judgment Evidence:
In the result, suit is decreed as follows: Defendant shall pay Rs.7,45,388.36/- along with interest @ 12.70% from the date of suit till the date of decree and 6% from the date of decree till payment.
Parties Involved
Plaintiffs
M/s Punjab National Bank (Age not specified years)
Head Office at Plot No-4, Sector-10, Dwarka, New Delhi - 110 075, Branch Office at Cochin Corporation Door No: 39/5165 -A, Ground Floor, 'KRISHNAS EMPIRE', at Main Avenue, Panampilly Nagar, Ernakulam, Cochin - 682 036, Kerala State
Defendants
Ann Jose (49 years)
Mannully House, S A Road, Kadavanthra P O, Pin - 682 020, Elamkulam Village, Kanayannur Taluk, Ernakulam District, Kerala State
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendant shall pay Rs.7,45,388.36/- along with interest.
Evidence:
Defendant shall pay Rs.7,45,388.36/- (Rupees Seven lakhs forty five thousand three hundred eighty eight and thirty six paise only) along with interest @ 12.70% from the date of suit till the date of decree and 6% from the date of decree till payment or realization, as the case may be, to plaintiff.
Relief Type:
Possession
Outcome:
Granted
Description:
Defendant's assets shall be liable to satisfy the decree debt.
Evidence:
Defendant shall be personally and his assets shall be liable to satisfy the decree debt.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff is entitled to realize the costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Original Sanction letter
Submitted By:
Plaintiff
Relevance:
It shows that the plaintiff bank sanctioned term loan of Rs.7,64,000/- to defendant.
Reference:
Ext.A1
Document Type:
Original Hypothecation Agreement (For Road Transport Operator and Other Commercial Vehicle)
Submitted By:
Plaintiff
Relevance:
This document pertains to the hypothecation of vehicles as security for the loan.
Reference:
Ext.A2
Document Type:
Term loan agreement
Submitted By:
Plaintiff
Relevance:
This agreement outlines the terms of the loan provided to the defendant.
Reference:
Ext.A3
Document Type:
Original of Agreement of Hypothecation of Assets to secure Term Loan
Submitted By:
Plaintiff
Relevance:
This document secures the term loan with the defendant's assets.
Reference:
Ext.A4
Document Type:
Original Master Agreement
Submitted By:
Plaintiff
Relevance:
This is a comprehensive agreement governing the loan arrangement.
Reference:
Ext.A5
Document Type:
Original Undertaking
Submitted By:
Plaintiff
Relevance:
This undertaking outlines the responsibilities of the defendant regarding the loan.
Reference:
Ext.A6
Document Type:
True extract of Loan account in term Loan
Submitted By:
Plaintiff
Relevance:
It provides evidence of the transactions and outstanding balance of the loan.
Reference:
Ext.A7
Document Type:
True copy of Power of Attorney
Submitted By:
Plaintiff
Relevance:
This document designates a representative for the management of the loan.
Reference:
Ext.A8