Case Summary
The plaintiff, Punjab National Bank, seeks to recover an outstanding loan amount from the defendants, Nimesh.V.V. and Flori Violet. The defendants defaulted on a car loan agreement, leading to this suit for monetary recovery.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.3,91,283.18 along with interest.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff successfully established the case with unchallenged evidence.
The plaintiff successfully established the case with unchallenged evidence.
Judgment Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.3,91,283.18 along with interest @9.65% 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 the plaintiff.
Parties Involved
Plaintiffs
Punjab National Bank (Age not specified years)
No.7, Bikaiji Cama Palace, New Delhi – 110 066
Defendants
Nimesh.V.V. (Age not specified years)
B. Thrikarthika Apartments, Edappally, Ernakulam, Pin – 682 019
Flori Violet (Age not specified years)
B. Thrikarthika Apartments, Edappally, Ernakulam, Pin – 682 019
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover Rs.3,91,283.18/- with interest from the defendants.
Evidence:
I am of the view that plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.3,91,283.18/- with interest from defendants.
Relief Type:
Interest
Outcome:
Granted
Description:
Defendants are directed to pay interest on the amount due at specified rates.
Evidence:
Defendants shall pay interest at the rate of 9.65% 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 the plaintiff.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff is also entitled to recover the costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Shows that 1st defendant applied for a car loan from the plaintiff.
Reference:
Ext.A1
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Indicates that a car loan of Rs.4,50,000/- was sanctioned to the plaintiff.
Reference:
Ext.A2
Document Type:
Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Confirms that the 1st defendant executed a letter of hypothecation in favor of the plaintiff.
Reference:
Ext.A3
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Indicates the guarantee agreement executed in favor of the plaintiff by the 2nd defendant.
Reference:
Ext.A4
Document Type:
Demand notices
Submitted By:
Plaintiff
Relevance:
Show that defendants had defaulted in repayment of the loan.
Reference:
Exts.A5, A6, A7, A8
Document Type:
Balance and Security Confirmation Letter
Submitted By:
Plaintiff
Relevance:
Documents the confirmation letter executed by the 1st defendant.
Reference:
Ext.A11
Document Type:
Extract of Loan Account
Submitted By:
Plaintiff
Relevance:
Shows that Rs.3,91,283.18/- is outstanding to the plaintiff.
Reference:
Ext.A16
Document Type:
Unapplied and Penal Interest Statement
Submitted By:
Plaintiff
Relevance:
Details the calculation of unapplied interest and penal interest pertaining to the loan account of the defendants.
Reference:
Ext.A17
Document Type:
Oral Evidence
Submitted By:
Plaintiff
Relevance:
Witness testimony from the Chief Manager of the plaintiff bank.
Reference: