Case Summary
This case involves South Indian Bank seeking to recover loan amounts from M/s Silver Edge and its proprietor, Mr. Muhammed Rafi. The defendants failed to repay the loan as per the agreed terms, leading the bank to file this suit.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants to pay Rs. 17,61,964/- with interest
Case Type
Commercial Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, ordering the defendants to pay the claimed amounts with interest. The defendants were set exparte as they failed to appear.
Why Plaintiff Won:
The plaintiff provided unchallenged proof of the loan and the defendants' failure to repay.
The plaintiff provided unchallenged proof of the loan and the defendants' failure to repay.
Losing Side's Weaknesses:
The plaintiff provided unchallenged proof of the loan and the defendants' failure to repay.
The plaintiff provided unchallenged proof of the loan and the defendants' failure to repay.
Supporting Evidence
The case of the plaintiff is proved by the unchallenged proof affidavit as well as document which were marked as Exts. A1 to A18.
Judgment Evidence:
Hence the suit is decreed as follows: (a) It is ordered that defendants do pay to the plaintiff a sum of Rs.17,61,964/- with interest thereon...
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- South Indian Bank, Chemancheri Branch
- Party Role
- Defendant
- Party Name
- M/s Silver Edge
- Party Role
- Defendant
- Party Name
- Mr. Muhammed Rafi P.K
- Party Age
- 42
- Relation
- S/o
Plaintiffs Documents
Application for credit facilities, Sanction letter of credit facilities, Credit facility agreement for operating loan accounts, Agreement of Hypothecation, Acknowledgment of receipt of copy of documents, Demand promissory Note
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Smt. A. Sylaja
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Directing the defendants to pay the agreed loan amount with interest.
Evidence:
Hence the suit is decreed as follows: (a) It is ordered that defendants do pay to the plaintiff a sum of Rs.17,61,964/- (RUPEES SEVENTEEN LAKH SIXTY ONE THOUSAND NINE HUNDRED AND SIXTY FOUR ONLY) with interest thereon at the rate of 9% per annum from the date of institution of the suit till this day and with interest thereon at the rate of 6% per annum from this day till realization.
Relief Type:
Other
Outcome:
Granted
Description:
The defendants are ordered to pay costs of the suit.
Evidence:
The defendants shall pay costs of the suit.
Documents & Evidence
Document Type:
Application for credit facilities
Submitted By:
Plaintiff
Relevance:
Document submitted to apply for credit facilities indicating the request for financial assistance.
Reference:
Ext.A1
Document Type:
Sanction letter of credit facilities
Submitted By:
Plaintiff
Relevance:
Official letter confirming the sanction of the credit facilities applied by the defendants.
Reference:
Ext.A2
Document Type:
Credit facility agreement for operating loan accounts
Submitted By:
Plaintiff
Relevance:
Agreement detailing the terms for operating the loan accounts.
Reference:
Ext.A3
Document Type:
Agreement of Hypothecation
Submitted By:
Plaintiff
Relevance:
Legal document securing the loan against specific assets of the defendants.
Reference:
Ext.A4
Document Type:
Acknowledgment of receipt of copy of documents
Submitted By:
Plaintiff
Relevance:
Confirmation of receipt by the defendants of the loan documents.
Reference:
Ext.A5
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Promissory note executed by the first defendant acknowledging their debt.
Reference:
Ext.A6
Document Type:
Sanction letter of credit facilities
Submitted By:
Plaintiff
Relevance:
Letter confirming the sanction of additional credit facilities under ECLGS.
Reference:
Ext.A7
Document Type:
Credit Facility Agreement
Submitted By:
Plaintiff
Relevance:
Agreement outlining the terms for the additional credit facility.
Reference:
Ext.A8
Document Type:
Supplemental Agreement of Hypothecation
Submitted By:
Plaintiff
Relevance:
Further hypothecation agreement securing the additional loan.
Reference:
Ext.A9
Document Type:
Acknowledgment of receipt copy of documents
Submitted By:
Plaintiff
Relevance:
Acknowledgment of receipt by the defendants for the additional loan documents.
Reference:
Ext.A10
Document Type:
Acknowledgment of debt & Security
Submitted By:
Plaintiff
Relevance:
Document where the second defendant acknowledges the liability towards the plaintiff.
Reference:
Ext.A11
Document Type:
Letter of renewal for continuance of CCOL Facility
Submitted By:
Plaintiff
Relevance:
Letter for renewal of the CCOL facility indicating ongoing compliance.
Reference:
Ext.A12
Document Type:
Renewal of credit facilities continuance of limits
Submitted By:
Plaintiff
Relevance:
Document pertaining to the renewal of credit limits.
Reference:
Ext.A13
Document Type:
Account Statements
Submitted By:
Plaintiff
Relevance:
Statements of account showing the debt status.
Reference:
Ext.A14
Document Type:
Account Statements
Submitted By:
Plaintiff
Relevance:
Further statements of account illustrating the financial position.
Reference:
Ext.A15
Document Type:
Copy of registered notice with Postal acknowledgment Card
Submitted By:
Plaintiff
Relevance:
Notice sent to the defendants regarding the loan recovery.
Reference:
Ext.A16
Document Type:
Copy of registered notice with Postal acknowledgment Card
Submitted By:
Plaintiff
Relevance:
Second registered notice related to loan recovery.
Reference:
Ext.A17
Document Type:
Copy of registered notice with Postal acknowledgment Card
Submitted By:
Plaintiff
Relevance:
Third registered notice concerning the outstanding debt.
Reference:
Ext.A18
Case Classification
Case Type
Commercial Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Commercial Court, Koyilandy
Common Reasons
Recovery of money
Case Code
C.S.
Case Code Year
2025