Case Summary
The South Indian Bank Limited filed a suit against Mahesh N and Prema N R for recovery of a loan amount. The defendants defaulted on payments for a car loan, leading to the bank seeking legal remedy.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendants are directed to pay an amount of ₹3,44,766.88 plus 10% interest.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The proof affidavit and documents submitted by the plaintiff satisfactorily proved the claims made in the plaint.
The proof affidavit and documents submitted by the plaintiff satisfactorily proved the claims made in the plaint.
Judgment Evidence:
The suit is decreed directing the defendants to pay an amount of ₹3,44,766.88 (Rupees Three Lakh Forty-Four Thousand Eight Hundred Sixty-Five and Paise Twenty-Seven only), with 10% interest per annum from the date of suit till the date of decree.
Parties Involved
Plaintiffs
The South Indian Bank Limited (Age not specified years)
SIB House, Mission Quarters, Thrissur, Kerala
Defendants
Mahesh N alias Mahesan N (55 years)
Vadakke Nambiath House, Chottanikkara P.O, Pin – 682312, Kanayannoor Village, Kanayannoor Taluk
Prema N R (49 years)
Vadakke Nambiath House, Chottanikkara P.O, Pin – 682312, Kanayannoor Village, Kanayannoor Taluk
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover the decree amount from the defendants.
Evidence:
The suit is decreed directing the defendants to pay an amount of ₹3,44,766.88.
Relief Type:
Interest
Outcome:
Partly Granted
Description:
Interest at 10% per annum from the date of suit till the date of decree.
Evidence:
With 10% interest per annum from the date of suit till the date of decree.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff is entitled to the costs of the litigation.
Evidence:
The plaintiff is also entitled to the costs of the litigation.
Documents & Evidence
Document Type:
Loan Agreement-cum-Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Executed by the first defendant agreeing to repay the loan amount with interest.
Reference:
Ext.A1
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Executed by the second defendant to guarantee the loan.
Reference:
Ext.A2
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Promised repayment of the loan amount with interest.
Reference:
Ext.A3
Document Type:
Registered Notice
Submitted By:
Plaintiff
Relevance:
Notice issued to the first defendant regarding outstanding dues.
Reference:
Ext.A4
Document Type:
A/d Card
Submitted By:
Plaintiff
Relevance:
Proof of service for the notice issued to the first defendant.
Reference:
Ext.A5
Document Type:
SARFAESI Notice
Submitted By:
Plaintiff
Relevance:
Notice demanding payment of the outstanding amount.
Reference:
Ext.A6
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Details of the outstanding loan amount and interest.
Reference:
Ext.A7