Case Summary
The South Indian Bank Ltd. filed a suit against M/s Mermaid Agencies and Mukesh Joseph for the realization of a loan amount. The defendants failed to repay the loan despite multiple demands from the plaintiff.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff is entitled to realize ₹5,23,420/- along with interest and costs of the suit from the defendants and their assets.
Case Type
Civil Suit
Final Judgment
No
The suit filed by The South Indian Bank Ltd. was decreed in their favor for the realization of the loan amount with interest. The defendants were found liable to repay the outstanding amount.
Why Plaintiff Won:
The evidence presented by the plaintiff sufficiently established the liability of the defendants.
The evidence presented by the plaintiff sufficiently established the liability of the defendants.
Losing Side's Weaknesses:
The evidence presented by the plaintiff sufficiently established the liability of the defendants.
The evidence presented by the plaintiff sufficiently established the liability of the defendants.
Supporting Evidence
These documents are sufficient to show the liability of the defendants towards plaintiff. Defendants could not rebut the evidence produced by the plaintiff.
Judgment Evidence:
In the result, the suit is decreed as follows: The plaintiff is entitled to realize ₹5,23,420/- (Rupees Five Lakhs Twenty Three Thousand Four Hundred and Twenty only) as on the date of suit.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- The South Indian Bank Ltd.
- Relation
- represented by
- Party Role
- Defendant
- Party Name
- M/s Mermaid Agencies
- Party Age
- 45
- Relation
- W/o
- Party Role
- Defendant
- Party Name
- Mukesh Joseph
- Party Age
- 45
- Relation
- S/o
Plaintiffs Documents
Agreement of Hypothecation dated 07.06.2018, Credit facility Agreement dated 07.06.2018, Agreement of Guarantee dated 07.06.2018, Demand promissory note dated 07.06.2018, Credit facility agreement dated 08.06.2020, Supplemental agreement of Hypothecation dated 08.06.2020, Agreement of Guarantee dated 08.06.2020.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Samsan Joseph
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Recovery of ₹5,23,420/- from the defendants.
Evidence:
In the result, the suit is decreed as follows: 1 The plaintiff is entitled to realize ₹5,23,420/-...
Relief Type:
Recovery
Outcome:
Granted
Description:
Interest on the amount from the date of suit till realization.
Evidence:
Plaintiff is also entitled to get interest at the rate of 11% per annum on ₹5,23,420/- from the date of suit till the date of decree...
Relief Type:
Recovery
Outcome:
Granted
Description:
Costs of the suit from the defendants.
Evidence:
The plaintiff is also entitled to realize the costs of the suit from the defendants and their assets.
Documents & Evidence
Document Type:
Agreement of Hypothecation
Submitted By:
Plaintiff
Relevance:
Produced to show the terms of the hypothecation related to the loan.
Reference:
Ext.A1
Document Type:
Credit Facility Agreement
Submitted By:
Plaintiff
Relevance:
Produced to indicate the credit facility extended to the defendants.
Reference:
Ext.A2
Document Type:
Agreement of Guarantee
Submitted By:
Plaintiff
Relevance:
Produced to demonstrate the guarantee signed by the second defendant.
Reference:
Ext.A3
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Produced as a formal commitment for repayment by the defendants.
Reference:
Ext.A4
Document Type:
Credit Facility Agreement
Submitted By:
Plaintiff
Relevance:
Produced to show the additional credit facility sanctioned.
Reference:
Ext.A5
Document Type:
Supplemental Agreement of Hypothecation
Submitted By:
Plaintiff
Relevance:
Produced to demonstrate the terms of the supplemental hypothecation.
Reference:
Ext.A6
Document Type:
Agreement of Guarantee
Submitted By:
Plaintiff
Relevance:
Produced to show the second agreement of guarantee.
Reference:
Ext.A7
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Acknowledgment from 03.04.2021 affirming the debt.
Reference:
Ext.A8
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Acknowledgment from 28.12.2022 reaffirming the debt.
Reference:
Ext.A9
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Acknowledgment from 03.01.2023 confirming the debt.
Reference:
Ext.A10
Document Type:
Certified copy of statement of account
Submitted By:
Plaintiff
Relevance:
Statement of account detailing transactions and the debt.
Reference:
Ext.A11
Document Type:
Certified copy of statement of account
Submitted By:
Plaintiff
Relevance:
Second statement of account detailing transactions and the debt.
Reference:
Ext.A12
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kottayam
State
Kerala
Court Establishment
Munsiff Court Kanjirappally
Common Reasons
Non-payment of rent
Case Code
O.S
Case Code Year
2024