Case Summary
The South Indian Bank filed a suit against M/s. Dreamlife Wellness Centre and its proprietor, Boby George, for the recovery of money due from loans taken by the defendants. The defendants defaulted in repayment, leading to the bank seeking legal recourse.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.6,36,623.73 with interest @ 10.90% per annum and Rs.1,11,656.46 with interest @ 9.25% per annum along with penal interest to the plaintiff.
Case Type
Civil Suit
Final Judgment
No
The court found in favor of the plaintiff, ordering the defendants to pay a specified amount along with interest. The plaintiff was also entitled to recover the costs of the suit.
Why Plaintiff Won:
The plaintiff established a case with unchallenged evidence and documentation.
The plaintiff established a case with unchallenged evidence and documentation.
Losing Side's Weaknesses:
The plaintiff established a case with unchallenged evidence and documentation.
The plaintiff established a case with unchallenged evidence and documentation.
Supporting Evidence
On perusal of the plaint, proof affidavit and documents produced, I am of the view that plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.6,36,623.73 with interest @ 10.90% per annum.
Judgment Evidence:
In the result, suit is decreed as follows: 1) Defendants shall pay Rs.6,36,623.73 with interest @ 10.90% per annum and Rs.1,11,656.46 with interest @ 9.25% per annum along with 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 the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- The South Indian Bank Ltd.
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- M/s. Dreamlife Wellness Centre
- Relation
- represented by
- Party Role
- Defendant
- Party Name
- Mr. Boby George
- Party Age
- 51
Plaintiffs Documents
True copy of trade licence, Loan Application, Loan Agreement, Sanction Letters, Acknowledgement of Debt and Security, Account statements.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- V.K. Hema
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Arunima.N.R.
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants shall pay Rs.6,36,623.73 with interest @ 10.90% per annum and Rs.1,11,656.46 with interest @ 9.25% per annum along with penal interest.
Evidence:
In the result, suit is decreed as follows: 1) Defendants shall pay Rs.6,36,623.73/- with interest @ 10.90% per annum and Rs.1,11,656.46/- with interest @ 9.25 % per annum along with 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 the plaintiff.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff is also 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:
These documents were marked and remained unchallenged, supporting the plaintiff's claim for money.
Reference:
Exts.A1 to A12
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Non-payment of rent
Case Code
O.S.NO.
Case Code Year
2023