Case Summary
The case involves M/s Punjab National Bank, a nationalized banking institution, suing Ann Jose, a proprietrix of a business, for defaulting on loan repayments. The plaintiff claims that the defendant failed to repay loans amounting to ₹3,78,412.92.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendant is directed to pay ₹2,66,132.52 for the term loan and ₹1,12,280.42 for the cash credit, along with interest.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The court found that the documents and evidence presented substantiated the plaintiff's claims regarding the loans and the defendant's repayment defaults.
The court found that the documents and evidence presented substantiated the plaintiff's claims regarding the loans and the defendant's repayment defaults.
Judgment Evidence:
In the result, the suit is decreed as follows. The defendant is directed to pay 2,66,132.52/- to the plaintiff along with interest @10.70% per annum from the date of the suit till the date of realization. The defendant is also directed to pay 1,12,280.42/- to the plaintiff along with interest @10.70% per annum from the date of the suit till the date of realization. Plaintiff shall also be entitled for costs of the litigation.
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
Defendants
Ann Jose (49 years)
Mannully house, S.A road, Kadavanthra P.O, Pin – 682 020, Elamkulam village, Kanayannur taluk, Ernakulam District
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendant is directed to pay the outstanding amount with interest.
Evidence:
The defendant is directed to pay 2,66,132.52/- to the plaintiff along with interest @10.70% per annum from the date of the suit till the date of realisation.
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendant is directed to pay the outstanding amount with interest.
Evidence:
The defendant is also directed to pay 1,12,280.42/- to the plaintiff along with interest @10.70% per annum from the date of the suit till the date of realisation.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff is entitled for costs of the litigation.
Evidence:
I find no result to deviate from the normal rule that costs shall follow the event.
Documents & Evidence
Document Type:
Sole Proprietorship Letter
Submitted By:
Plaintiff
Relevance:
Original document confirming the proprietary status of the defendant's business.
Reference:
Ext.A1
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Original document detailing the sanctioned term loan to the defendant.
Reference:
Ext.A2
Document Type:
Term loan agreement
Submitted By:
Plaintiff
Relevance:
Original agreement outlining the terms of the term loan provided to the defendant.
Reference:
Ext.A3
Document Type:
Agreement of Hypothecation of Assets
Submitted By:
Plaintiff
Relevance:
Original document outlining the hypothecation of assets for the cash credit facility.
Reference:
Ext.A4
Document Type:
Balance and Security Confirmation in the Term Loan Account
Submitted By:
Plaintiff
Relevance:
Original confirmation acknowledging the liability in the term loan account.
Reference:
Ext.A5
Document Type:
Balance and Security Confirmation in the Cash Credit Account
Submitted By:
Plaintiff
Relevance:
Original confirmation acknowledging the liability in the cash credit account.
Reference:
Ext.A6
Document Type:
True extract of Loan account in term Loan
Submitted By:
Plaintiff
Relevance:
Extract of the loan account details for the term loan.
Reference:
Ext.A7
Document Type:
True Extract of Loan Account in Cash Credit
Submitted By:
Plaintiff
Relevance:
Extract of the loan account details for the cash credit facility.
Reference:
Ext.A8
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Statement of account for the term loan issued by the bank.
Reference:
Ext.A9
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Statement of account for the cash credit loan issued by the bank.
Reference:
Ext.A10
Document Type:
Reply of the Ombudsman
Submitted By:
Defendant
Relevance:
True copy of the response regarding complaints raised by the defendant.
Reference:
Ext.B1
Document Type:
Representation to SLBC
Submitted By:
Defendant
Relevance:
True copy of the representation made regarding the banking issues.
Reference:
Ext.B2
Document Type:
Certificate under Section 65B of the Indian Evidence Act
Submitted By:
Defendant
Relevance:
Certified document used to establish the admissibility of electronic records.
Reference:
Ext.B3