Case Summary
The plaintiff, The South Indian Bank Limited, is pursuing a monetary claim against the defendants, Mr. Shiraz M.S, a sole proprietor, and Mr. Mohammed Shaheer, a guarantor. The case revolves around the non-repayment of loan facilities availed by the first defendant, with the second defendant standing as guarantor.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants are directed to pay to the plaintiff an amount of Rs.5,41,747.81 with interest at the rate of 6% per annum.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The case of the plaintiff stands proved due to uncontested evidence.
The case of the plaintiff stands proved due to uncontested evidence.
Judgment Evidence:
In the result, the suit is decreed as follows: I. The defendants are directed to pay to the plaintiff, an amount of 5,41,747.81/- (Rupees Five Lakhs Forty One Thousand Seven Hundred and Forty Seven and Eighty One Paise only) with interest at the rate of 6% per annum from the date of institution of the suit, till its realisation from the defendants or their assets.
Parties Involved
Plaintiffs
The South Indian Bank Limited (Age not specified years)
SIB Building, Market Road, Ernakulam, Pin – 682 035
Defendants
Mr. Shiraz M.S (33 years years)
40/7381, First Floor, Market Road, Ernakulam – 682 035
Mr. Mohammed Shaheer @ M. K Shaheer (64 years years)
Maliyekkal House, XIV 1714, Karuvelippady, Rameswaram lane, Kochi, Ernakulam, Pin – 682 005
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff sought to recover the amount owed which was found to be Rs.5,41,747.81/-.
Evidence:
The plaintiff is entitled to a decree in its favour.
Relief Type:
Costs
Outcome:
Granted
Description:
The plaintiff is entitled to the costs of the suit from the defendants.
Evidence:
Considering the nature of the suit and circumstances surrounding the suit, the plaintiff is entitled to the costs of the suit from the defendants.
Documents & Evidence
Document Type:
Loan Sanction Letter
Submitted By:
Plaintiff
Relevance:
This document evidences the approval of the loan facility availed by the first defendant.
Reference:
Ext.A1
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
This document serves as a formal acknowledgment of the debt and terms between the plaintiff and the first defendant.
Reference:
Ext.A2
Document Type:
Credit Facility Agreement
Submitted By:
Plaintiff
Relevance:
This agreement outlines the terms under which the credit facility was granted to the first defendant.
Reference:
Ext.A3
Document Type:
Agreement of Hypothecation
Submitted By:
Plaintiff
Relevance:
This document details the hypothecation of goods against the loan availed by the first defendant.
Reference:
Ext.A4
Document Type:
Agreement of Guarantee
Submitted By:
Plaintiff
Relevance:
This document represents the second defendant's guarantee for the loan facilities availed by the first defendant.
Reference:
Ext.A5
Document Type:
Loan Sanction Letter
Submitted By:
Plaintiff
Relevance:
This document evidences the approval of an additional loan facility availed by the first defendant.
Reference:
Ext.A6
Document Type:
Credit Facility Agreement
Submitted By:
Plaintiff
Relevance:
This agreement outlines the terms for the additional credit facility granted to the first defendant.
Reference:
Ext.A7
Document Type:
Supplemental of Agreement of hypothecation
Submitted By:
Plaintiff
Relevance:
This document details the updated hypothecation of goods for the new loan facility.
Reference:
Ext.A8
Document Type:
Agreement of Guarantee
Submitted By:
Plaintiff
Relevance:
This document evidences the continuation of the second defendant's guarantee for the new loan facility.
Reference:
Ext.A9
Document Type:
Loan Sanction Letter
Submitted By:
Plaintiff
Relevance:
This document evidences the approval of another continuation of loan facilities.
Reference:
Ext.A10
Document Type:
Letter of renewal for continuance of CCOL Facility
Submitted By:
Plaintiff
Relevance:
This letter confirms the renewal of the cash credit facility.
Reference:
Ext.A11
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
This document serves as acknowledgment of the debt and the terms of the security.
Reference:
Ext.A12
Document Type:
Loan Sanction Letter
Submitted By:
Plaintiff
Relevance:
This document evidences the approval of loan facilities availed by the first defendant.
Reference:
Ext.A13
Document Type:
Office copy of the recall notice
Submitted By:
Plaintiff
Relevance:
This document serves as a formal notice regarding the recall of the loan.
Reference:
Ext.A14
Document Type:
Postal Receipts
Submitted By:
Plaintiff
Relevance:
These receipts evidence the correspondence related to the proceedings.
Reference:
Ext.A15
Document Type:
Office copy of the guarantee invocation letter
Submitted By:
Plaintiff
Relevance:
This letter invokes the guarantee provided by the second defendant.
Reference:
Ext.A16
Document Type:
Postal Receipts
Submitted By:
Plaintiff
Relevance:
These receipts evidence further correspondence related to the proceedings.
Reference:
Ext.A17
Document Type:
Office copy of the recall notice
Submitted By:
Plaintiff
Relevance:
This document serves as a formal notice regarding the recall of another loan.
Reference:
Ext.A18
Document Type:
Postal Receipts
Submitted By:
Plaintiff
Relevance:
These receipts evidence further correspondence related to the proceedings.
Reference:
Ext.A19
Document Type:
Computer print of the Statement of account
Submitted By:
Plaintiff
Relevance:
This document provides a detailed account of the transactions related to the loan.
Reference:
Ext.A20
Document Type:
Computer print out of penal interest report
Submitted By:
Plaintiff
Relevance:
This report outlines the penal interest charged on the defaulted loan.
Reference:
Ext.A21
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
This document provides an account statement related to the loans.
Reference:
Ext.A22
Document Type:
Computer print of penal interest report
Submitted By:
Plaintiff
Relevance:
This report outlines additional penal interest details for the loan.
Reference:
Ext.A23
Document Type:
True copy of Power of Attorney
Submitted By:
Plaintiff
Relevance:
This document grants authority to the representative of the plaintiff bank.
Reference:
Ext.A24