Case Summary
The South Indian Bank Limited filed a suit against Sivin Sabu and Krishna Priya K for the realization of loan amounts due. The defendants defaulted on repayment of loans sanctioned for business purposes.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.36,083.97/- along with interest @9.25% per annum and penal interest @2%.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff established a case through unchallenged evidence of loan agreements and acknowledgment of debt.
The plaintiff established a case through unchallenged evidence of loan agreements and acknowledgment of debt.
Judgment Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.36,083.97/- along with interest @9.25% per annum and penal interest @2% 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
Sivin Sabu (32 years)
Elamkulam House, Vattukkunnu, Mulanthuruthy P O, Pin- 682314
Krishna Priya K (28 years)
Elamkulam House, Vattukkunnu, Mulanthuruthy P O, Pin- 682314
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants shall pay Rs.36,083.97/- along with interest to the plaintiff.
Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.36,083.97/- (Rupees Thirty six thousand eighty three and ninety seven paise only) along with interest @9.25 % per annum and penal interest @2% from the date of suit till the date of decree and 6% from the date of decree till payment or realization, as the case may be, to plaintiff.
Relief Type:
Other
Outcome:
Granted
Description:
Defendants shall personally and their assets shall also be liable to satisfy the decree debt.
Evidence:
Defendants shall be personally and their assets shall also be liable to satisfy the decree debt.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff is entitled to realize the costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Loan Agreement
Submitted By:
Plaintiff
Relevance:
Original loan agreement executed by the 1st defendant for the loan provided by the bank.
Reference:
Ext.A1
Document Type:
Supplemental Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Original supplemental hypothecation agreement executed by the 1st defendant.
Reference:
Ext.A2
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Original guarantee agreement executed by the 2nd defendant.
Reference:
Ext.A3
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Certified copy of acknowledgment of debt and security executed by the defendants.
Reference:
Ext.A4
Document Type:
Registered Notice
Submitted By:
Plaintiff
Relevance:
True copy of registered notice issued by the plaintiff bank to defendants.
Reference:
Ext.A5
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
True copy of lawyer notice issued to defendants.
Reference:
Ext.A6
Document Type:
Envelope
Submitted By:
Plaintiff
Relevance:
Original envelope returned unserved.
Reference:
Ext.A7
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
True copy of the statement of account relating to the defendant’s loan account.
Reference:
Ext.A8