Case Summary
The South Indian Bank Limited is seeking to recover a total sum of Rs.18,47,654 from the defendants, who failed to comply with the loan agreement terms. The suit was filed due to the defendants' default on a loan for business development.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendants are directed to pay Rs.18,47,654 with interest and costs of the suit.
Case Type
Commercial Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, ordering the defendants to pay Rs.18,47,654 along with interest. The plaintiff was also granted the right to recover costs from the defendants.
Why Plaintiff Won:
The plaint claim stands proved based on the unrebutted testimony and documentary evidence submitted by the plaintiff.
The plaint claim stands proved based on the unrebutted testimony and documentary evidence submitted by the plaintiff.
Losing Side's Weaknesses:
The plaint claim stands proved based on the unrebutted testimony and documentary evidence submitted by the plaintiff.
The plaint claim stands proved based on the unrebutted testimony and documentary evidence submitted by the plaintiff.
Supporting Evidence
The evidence adduced by plaintiff stands unchallenged... it is found that the plaint claim stands proved and the plaintiff is entitled to a decree as prayed for.
Judgment Evidence:
In the result, the suit is decreed with costs as follows: 1) The defendants are directed to pay to the plaintiff, an amount of Rs.18,47,654/-...
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- The South Indian Bank Limited
- Party Role
- Defendant
- Party Name
- Proprietor, M/s Skyway Travels Poonoor
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Siddik. E.P
- Party Age
- 46
- Relation
- S/o
Plaintiffs Documents
Loan application, Sanction memorandum, Credit facility agreement, Demand promissory note, Application for restructuring the loan, Sanction/renewal of credit facility, Short Term Restructuring (Term) Loan Agreement, Acknowledgment of debt, Account statement, Non Starter Report
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. T. J. Roy
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- A.T. Raju
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants to pay the total amount outstanding to the plaintiff with interest.
Evidence:
In the result, the suit is decreed with costs as follows: 1) The defendants are directed to pay to the plaintiff, an amount of Rs.18,47,654/- (Rupees eighteen lakhs forty seven thousand six hundred and fifty four only) with interest at the rate of 14.20% per annum from the date of institution of the suit till the date of decree.
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff entitled to realize costs of the suit from the defendants.
Evidence:
2) The plaintiff is entitled to realize costs of the suit from the defendants and their assets.
Documents & Evidence
Document Type:
Application Form for Loan
Submitted By:
Plaintiff
Relevance:
Submitted by the defendants for financial assistance.
Reference:
Ext.A1
Document Type:
Sanction of credit facilities
Submitted By:
Plaintiff
Relevance:
Document showing credit facilities sanctioned to the defendants.
Reference:
Ext.A2
Document Type:
Credit Facility Agreement
Submitted By:
Plaintiff
Relevance:
Agreement executed by the defendants for the credit facility.
Reference:
Ext.A3
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Promissory note executed by the defendants on availing the loan.
Reference:
Ext.A4
Document Type:
Application for restructuring of loan
Submitted By:
Plaintiff
Relevance:
Application submitted for restructuring the loan.
Reference:
Ext.A5
Document Type:
Sanction /Renewal of credit facilities
Submitted By:
Plaintiff
Relevance:
Sanction of the restructured loan facilities.
Reference:
Ext.A6
Document Type:
Short term restructuring (term) Loan Agreement
Submitted By:
Plaintiff
Relevance:
Agreement for the short term loan restructuring.
Reference:
Ext.A7
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Document acknowledging the debt by the defendants.
Reference:
Ext.A8
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Another document acknowledging the debt by the defendants.
Reference:
Ext.A9
Document Type:
Certificate u/s. 2A(b) of Bankers Book Evidence Act
Submitted By:
Plaintiff
Relevance:
Certificate related to banker's book evidence.
Reference:
Ext.A10
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
Account statement of the defendants.
Reference:
Ext.A10(a)
Document Type:
Certificate U/s 2A(b) of Bankers Book Evidence Act
Submitted By:
Plaintiff
Relevance:
Another certificate related to banker's book evidence.
Reference:
Ext.A11
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
Another account statement of the defendants.
Reference:
Ext.A11(a)
Document Type:
Non Starter Report
Submitted By:
Plaintiff
Relevance:
Report issued to the plaintiff bank indicating issues with loan.
Reference:
Ext.A12
Case Classification
Case Type
Commercial Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Commercial Court, Koyilandy
Common Reasons
Non-payment of rent
Case Code
Case between The South Indian Bank Limited vs Proprietor, M/s Skyway Travels Poonoor regarding realization of money
Case Code Year
Case between The South Indian Bank Limited vs Proprietor, M/s Skyway Travels Poonoor regarding realization of money