Case Summary
The South Indian Bank Ltd. is seeking to recover a loan amount from defendants Ramesh Achuthan and Achuthan M C. The defendants have not repaid the loan and the bank claims they are entitled to a mortgage decree for the owed sum.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff is allowed to recover the sum of 90,124/- with interest at the rate of 11% per annum.
Case Type
Civil Suit
Final Judgment
No
The court decreed in favor of the plaintiff allowing them to recover the loan amount with interest. The defendants' arguments regarding limitation and terms of the loan were not sufficient to dismiss the case.
Why Plaintiff Won:
The plaintiff proved acknowledgment of debt by the defendants and the suit was not barred by limitation.
The plaintiff proved acknowledgment of debt by the defendants and the suit was not barred by limitation.
Losing Side's Weaknesses:
The plaintiff proved acknowledgment of debt by the defendants and the suit was not barred by limitation.
The plaintiff proved acknowledgment of debt by the defendants and the suit was not barred by limitation.
Supporting Evidence
The plaintiff had proved that the defendants had acknowledged the debt on 26.08.2016. The suit is not time barred and the plaintiff established his right for the plaint claim.
Judgment Evidence:
In the result: The suit is decreed as follows: (a) Allowing the plaintiff to recover and realise a sum of 90,124/- (Rupees Ninety thousand one hundred and twenty four only) with an interest @ 11% per annum from the date of suit till realisation in full from the defendants’ assets.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- The South Indian Bank Ltd.
- Party Role
- Defendant
- Party Name
- Ramesh Achuthan
- Party Age
- 35
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Achuthan M C
- Party Age
- 65
Plaintiffs Documents
Loan Sanction Letter, Agreement of Hypothecation, Agreement of Guarantee, Letter of renewal, Demand Promissory Note, Office copy of Lawyer Notice, Postal Acknowledgment cards, Postal receipts, Loan Account statement.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- M/s. Mathew P. Paul & Finimol T.P.
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Babu T Cherian
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover monetary amount with interest.
Evidence:
The suit is decreed as follows: Allowing the plaintiff to recover and realise a sum of 90,124/- (Rupees Ninety thousand one hundred and twenty four only) with an interest @ 11% per annum from the date of suit till realisation in full from the defendants’ assets.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff is also entitled to costs of the suit.
Evidence:
The plaintiff is also entitled to get costs of the suit.
Documents & Evidence
Document Type:
Loan Sanction Letter
Submitted By:
Plaintiff
Relevance:
This document was utilized to prove the loan granted to the defendants.
Reference:
Ext.A1
Document Type:
Agreement of Hypothecation
Submitted By:
Plaintiff
Relevance:
This document was used to establish the terms of security for the loan.
Reference:
Ext.A2
Document Type:
Agreement of Guarantee
Submitted By:
Plaintiff
Relevance:
This document demonstrates the second defendant's guarantee of the loan.
Reference:
Ext.A3
Document Type:
Letter of renewal
Submitted By:
Plaintiff
Relevance:
This document indicates that the loan was renewed.
Reference:
Ext.A4
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
This document was used to showcase the debtor's acknowledgment of the loan.
Reference:
Ext.A5
Document Type:
Office copy of lawyer notice
Submitted By:
Plaintiff
Relevance:
This document was presented to establish that legal notice was issued to the defendants.
Reference:
Ext.A6
Document Type:
Office copy of lawyer notice
Submitted By:
Plaintiff
Relevance:
This document was part of the evidence regarding the legal notice.
Reference:
Ext.A6(a)
Document Type:
Postal Acknowledgement Card
Submitted By:
Plaintiff
Relevance:
This document serves as proof of receipt of the notice.
Reference:
Ext.A7
Document Type:
Postal Acknowledgement Card
Submitted By:
Plaintiff
Relevance:
This document complements the proof of receipt of the notice.
Reference:
Ext.A7(a)
Document Type:
Postal receipt
Submitted By:
Plaintiff
Relevance:
This document confirms the postal dispatch of the notice.
Reference:
Ext.A8
Document Type:
Postal receipt
Submitted By:
Plaintiff
Relevance:
This document is additional confirmation of the postal dispatch.
Reference:
Ext.A8(a)
Document Type:
Loan Account Statement
Submitted By:
Plaintiff
Relevance:
This document was used to show the financial transactions related to the loan.
Reference:
Ext.A9
Document Type:
Oral Evidence
Submitted By:
Unknown
Relevance:
This indicates that oral evidence was presented by the plaintiff.
Reference:
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Kolenchery
Common Reasons
Recovery of money
Case Code
Case between The South Indian Bank Ltd. vs Ramesh Achuthan, Achuthan M C regarding realisation of money.
Case Code Year
Case between The South Indian Bank Ltd. vs Ramesh Achuthan, Achuthan M C regarding realisation of money.