Case Summary
Punjab National Bank filed a suit against M/s Vijaya Fashions Private Limited and its directors for the realization of a loan amount. The bank claimed that the defendants failed to repay the loan, leading to the suit.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.5,76,918 along with interest.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
Plaintiff established a case for recovery of the loan amount based on unchallenged evidence.
Plaintiff established a case for recovery of the loan amount based on unchallenged evidence.
Judgment Evidence:
In the result, suit is decreed as follows: 1) Defendants shall pay Rs.5,76,918 along with interest @12.10% per annum from the date of suit till the date of decree and @6% from the date of decree till the date of payment or realization, as the case may be, to plaintiff.
Parties Involved
Plaintiffs
Punjab National Bank (Age not specified years)
Trine Tower, Sea PortAir Port Road, Kakkanad, Ernakulam, Pin – 682 021
Defendants
M/s Vijaya Fashions Private Limited (Age not specified years)
7B, Aditya Gokulam, Kollamhudimagal Road, Kakkanad, Ernakulam, Kochi – 682 021
M/s. Justine Peter (33 years years)
G201, GLF New Town Heights, Kakkanad, Ernakulam, Pin – 682 030
M/s. Vijaya.H.S. (63 years years)
G201, GLF New Town Heights, Kakkanad, Ernakulam, Pin – 682 030
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff sought recovery of Rs.5,76,918 with interest.
Evidence:
Defendants shall pay Rs.5,76,918 along with interest @12.10% per annum from the date of suit till the date of decree.
Relief Type:
Cost Recovery
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:
Certificate of Recognition
Submitted By:
Plaintiff
Relevance:
Part of the evidence presented to establish the plaintiff's case.
Reference:
Ext.A1
Document Type:
Application for Loan
Submitted By:
Plaintiff
Relevance:
Details the loan availed by the defendant from the plaintiff.
Reference:
Ext.A2
Document Type:
Common agreement
Submitted By:
Plaintiff
Relevance:
Demonstrates the agreement terms between the plaintiff and the first defendant regarding the loan.
Reference:
Ext.A3
Document Type:
Agreement of Hypothecation of Assets
Submitted By:
Plaintiff
Relevance:
Provides security for the loan extended by the plaintiff.
Reference:
Ext.A4
Document Type:
Agreement of Guarantee
Submitted By:
Plaintiff
Relevance:
Executed by the first defendant to secure the loan.
Reference:
Ext.A5
Document Type:
Agreement of Guarantee
Submitted By:
Plaintiff
Relevance:
Executed by the second defendant to secure the loan.
Reference:
Ext.A6
Document Type:
Letter of balance and security confirmation
Submitted By:
Plaintiff
Relevance:
Confirms the security arrangement for the loan.
Reference:
Ext.A7
Document Type:
Registered Notice
Submitted By:
Plaintiff
Relevance:
Notifies the defendant regarding the loan details.
Reference:
Ext.A8
Document Type:
Registered Notice
Submitted By:
Plaintiff
Relevance:
Returned unclaimed notice indicating non-response from the defendant.
Reference:
Ext.A9
Document Type:
Registered Notice
Submitted By:
Plaintiff
Relevance:
Returned unclaimed notice for the second defendant.
Reference:
Ext.A10
Document Type:
Registered Notice
Submitted By:
Plaintiff
Relevance:
Returned unclaimed notice for the third defendant.
Reference:
Ext.A11
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Details the financial transactions relevant to the loan account.
Reference:
Ext.A12