Case Summary
M/s. South Indian Bank Ltd is involved in a suit against Neeraj.P.A and others for the realization of an outstanding education loan amount. The defendants defaulted on repayment of ₹3,42,689 and did not respond to notices issued by the bank.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants are directed to pay ₹3,42,689 to the plaintiff with interest at the rate of 6% per annum from the date of the suit till realization.
Case Type
Commercial Suit
Final Judgment
No
The court found in favor of the plaintiff, ordering defendants to pay ₹3,42,689 with interest and costs. The suit was not barred by limitation as the plaintiff filed it within the allowable time frame.
Why Plaintiff Won:
The defendants did not dispute the availing of the loan or the amount owed, thus admitting liability.
The defendants did not dispute the availing of the loan or the amount owed, thus admitting liability.
Losing Side's Weaknesses:
The defendants did not dispute the availing of the loan or the amount owed, thus admitting liability.
The defendants did not dispute the availing of the loan or the amount owed, thus admitting liability.
Supporting Evidence
Plaintiff claims that defendants had availed an educational loan of ₹10,00,000 for the educational purpose of D1 on 19.09.2009 and that they subsequently made default in repayment of the said amount as agreed by them.
Judgment Evidence:
In the light of findings under Issue Nos. 1 and 2, the suit is decreed as follows: Defendants are directed to pay an amount of ₹3,42,689 to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- M/s. South Indian Bank Ltd
- Relation
- Rep:by its Senior Manager
- Party Role
- Defendant
- Party Name
- Neeraj.P.A
- Party Age
- 29
- Relation
- D/o
- Party Role
- Defendant
- Party Name
- P.A. Prahlad
- Party Age
- 61
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Rajula.T
- Party Age
- 59
- Relation
- W/o
- Party Role
- Defendant
- Party Name
- P.A.Ashok Kumar
- Party Age
- 87
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Jaya Ashok
- Party Age
- 88
- Relation
- W/o
Plaintiffs Documents
Education Loan Agreement, Sanction of Credit facilities, Agreement of guarantee, Acknowledgment of debt.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. E.V. Viswabharan
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Sri. P. R. Rajesh
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Sri. M. Jayadeep
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Sri. Nivin Jude
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff to recover an amount of 3,42,689/- from defendants.
Evidence:
Defendants are directed to pay an amount of .3,42,689/- to the plaintiff.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff entitled to interest at the rate of 6% per annum.
Evidence:
The plaintiff will be entitled for interest at the rate of 6% per annum from the date of the suit till realisation of the decree.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff entitled to costs of the suit.
Evidence:
The plaintiff will be entitled for costs of the suit.
Documents & Evidence
Document Type:
Education Loan Agreement
Submitted By:
Plaintiff
Relevance:
Proves that defendants had availed an educational loan of 10,00,000/- from plaintiff bank.
Reference:
Ext.A1
Document Type:
Sanction of credit facilities
Submitted By:
Plaintiff
Relevance:
Documents the credit facilities sanctioned to the defendants.
Reference:
Ext.A2
Document Type:
Agreement of Guarantee
Submitted By:
Plaintiff
Relevance:
Guarantee executed by defendant No.4 for the educational loan.
Reference:
Ext.A3
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Acknowledgments of debt signed by the defendants indicating their liability.
Reference:
Exts.A4 to A6
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Notices issued for recovery of the outstanding loan amount.
Reference:
Exts.A7 and A8
Document Type:
Postal Acknowledgment Card
Submitted By:
Plaintiff
Relevance:
Acknowledgments indicating receipt of lawyer notices.
Reference:
Exts.A9 to A12
Document Type:
Application for Mediation
Submitted By:
Plaintiff
Relevance:
Shows plaintiff's attempt for pre-institution mediation.
Reference:
Ext.A13
Document Type:
Non-starter report
Submitted By:
Plaintiff
Relevance:
Report indicating no resolution in mediation.
Reference:
Ext.A14
Document Type:
Certified Copy of the account
Submitted By:
Plaintiff
Relevance:
Documents the outstanding balance of 3,42,689/- owed by defendants.
Reference:
Ext.A15
Case Classification
Case Type
Commercial Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Commercial Court Kozhikode
Common Reasons
Recovery of money
Case Code
Case between M/s. South Indian Bank Ltd vs Neeraj.P.A et al regarding realization of amount.
Case Code Year
Case between M/s. South Indian Bank Ltd vs Neeraj.P.A et al regarding realization of amount.