Case Summary
The case involves Punjab National Bank seeking to recover a loan amount from M/s Agasthya Ayurveda Pharmacy due to a term loan facility not repaid. The defendant failed to settle the loan despite numerous demands.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant shall pay to the plaintiff the sum of Rs.2,15,954.15 along with interest at the rate of 6% per annum.
Case Type
Civil Suit
Final Judgment
No
The suit is decreed in favor of the plaintiff, ordering the defendant to pay the amount due along with interest.
Why Plaintiff Won:
The evidence presented by the plaintiff established their entitlement to the claimed reliefs.
The evidence presented by the plaintiff established their entitlement to the claimed reliefs.
Losing Side's Weaknesses:
Not available
Not available
Supporting Evidence
The plaint averments, affidavit and the documents would establish the case of the plaintiff. There is no evidence to rebut the evidence adduced on the side of the plaintiff.
Judgment Evidence:
In the result, the suit is decreed as follows: It is ordered that the defendant shall pay to the plaintiff the sum of Rs.2,15,954.15/- (Rupees Two Lakhs Fifteen Thousand Nine Hundred and Fifty four and fifteen Paise Only) along with interest at the rate of 6% per annum from the date of institution of the suit till the date of realization of the sum.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Punjab National Bank
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- M/s Agasthya Ayurveda Pharmacy
- Relation
- Represented by
Plaintiffs Documents
Application for the term loan, Credit sanction letter, Term Loan Agreement, Security conformation letter, Attested copy of the ledger.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sindu Gopalakrishnan
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff is entitled to recover the sum due from the defendant.
Evidence:
Hence the plaintiff is entitled to the reliefs as claimed for.
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendant shall pay the plaintiff the outstanding amount along with interest.
Evidence:
It is ordered that the defendant shall pay to the plaintiff the sum of Rs.2,15,954.15/- along with interest at the rate of 6% per annum.
Documents & Evidence
Document Type:
Application for the term loan
Submitted By:
Plaintiff
Relevance:
This document supports the plaintiff's claim for the amount due.
Reference:
Ext.A1
Document Type:
Credit Sanction letter
Submitted By:
Plaintiff
Relevance:
This document confirms the loan sanctioned to the defendant.
Reference:
Ext.A2
Document Type:
Annexure to the Loan Application
Submitted By:
Plaintiff
Relevance:
This document is part of the loan application submitted by the defendant.
Reference:
Ext.A3
Document Type:
Term loan agreement
Submitted By:
Plaintiff
Relevance:
This document outlines the terms of the loan agreement between the plaintiff and defendant.
Reference:
Ext.A4
Document Type:
Common agreement
Submitted By:
Plaintiff
Relevance:
This document is associated with the loan conditions agreed upon by the defendant.
Reference:
Ext.A5
Document Type:
Sole Proprietorship Letter
Submitted By:
Plaintiff
Relevance:
This document establishes the defendant's legal standing as a sole proprietor.
Reference:
Ext.A6
Document Type:
Balance and Security Confirmation Letter
Submitted By:
Plaintiff
Relevance:
This document indicates the defendant's acknowledgment of the outstanding balance.
Reference:
Ext.A7
Document Type:
Attested copy of the ledger
Submitted By:
Plaintiff
Relevance:
This document shows the outstanding amount due from the defendant.
Reference:
Ext.A8
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kottayam
State
Kerala
Court Establishment
Munsiff Court, Kottayam
Common Reasons
Non-payment of rent
Case Code
Case between Punjab National Bank vs M/s Agasthya Ayurveda Pharmacy regarding realization of money.
Case Code Year
Case between Punjab National Bank vs M/s Agasthya Ayurveda Pharmacy regarding realization of money.