Case Summary
The plaintiff, State Bank of India, is seeking to recover an amount of ₹19,12,241 from the defendant, Shanoop N.M, who defaulted on loan repayments. The plaintiff bank sanctioned a term loan and a cash credit loan to the defendant, who has failed to repay the amounts as agreed.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant is directed to pay ₹19,12,241 to the plaintiff with interest and costs.
Case Type
Commercial Suit
Final Judgment
No
The court ruled in favor of the plaintiff, ordering the defendant to pay the amount claimed, along with interest and costs.
Why Plaintiff Won:
The plaintiff successfully proved that the defendant had availed loans and defaulted in repayment.
The plaintiff successfully proved that the defendant had availed loans and defaulted in repayment.
Losing Side's Weaknesses:
The plaintiff successfully proved that the defendant had availed loans and defaulted in repayment.
The plaintiff successfully proved that the defendant had availed loans and defaulted in repayment.
Supporting Evidence
Having gone through the documents marked and proof affidavit filed by the plaintiff, I am satisfied that the plaintiff has successfully proved that the defendant had availed loans from the plaintiff bank as stated in the plaint and since he defaulted in repayment as claimed in the plaint, the present suit has been filed and defendant is liable to pay the amount claimed in the plaint.
Judgment Evidence:
In the result, the suit is decreed as follows:- 1. The defendant is hereby directed to pay an amount of 19,12,241/- (Rupees nineteen lakh twelve thousand two hundred and forty one only) to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- State Bank of India
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Shanoop N.M
- Party Age
- 37
Plaintiffs Documents
Application for MSME loan, Letter of arrangement, Agreement of Loan-cum-hypothecation, Addendum to arrangement letter, Lawyer notice, Non starter report, Account statement.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. Sajeevan M.V
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- E. Balakrishnan
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Recovery of the loan amount of ₹19,12,241 from the defendant.
Evidence:
The defendant is hereby directed to pay an amount of 19,12,241/- (Rupees nineteen lakh twelve thousand two hundred and forty one only) to the plaintiff.
Relief Type:
Interest
Outcome:
Granted
Description:
Interest at the rate of 9% per annum from the date of the suit until the date of decree.
Evidence:
The plaintiff will be entitled for interest at the rate of 9% per annum from the date of the suit (10-04-2025) till the date of decree.
Relief Type:
Cost
Outcome:
Granted
Description:
Costs of the suit awarded to the plaintiff.
Evidence:
The plaintiff will be entitled for costs of the suit.
Documents & Evidence
Document Type:
Application for MSME loan
Submitted By:
Plaintiff
Relevance:
Document submitted by the defendant applying for a loan.
Reference:
Ext.A1
Document Type:
Letter of arrangement
Submitted By:
Plaintiff
Relevance:
Document outlining the terms of the loan arrangement.
Reference:
Ext.A2
Document Type:
Agreement of Loan-cum-Hypothecation
Submitted By:
Plaintiff
Relevance:
Loan agreement detailing the conditions and hypothecation of assets.
Reference:
Ext.A3
Document Type:
Addendum to Arrangement Letter
Submitted By:
Plaintiff
Relevance:
Supplementary document to the loan arrangement detailing additional terms.
Reference:
Ext.A4
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Legal notice sent to the defendant regarding loan default.
Reference:
Ext.A5
Document Type:
Acknowledgment card
Submitted By:
Plaintiff
Relevance:
Receipt confirming the defendant's acknowledgement of the legal notice.
Reference:
Ext.A5(a)
Document Type:
Acknowledgment card
Submitted By:
Plaintiff
Relevance:
Additional receipt confirming the defendant's acknowledgement of the legal notice.
Reference:
Ext.A5(b)
Document Type:
Non Starter Report
Submitted By:
Plaintiff
Relevance:
Report indicating the defendant's failure to fulfill loan obligations.
Reference:
Ext.A6
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
Statement showing the financial transactions related to the loan account.
Reference:
Ext.A7
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
Additional statement showing the current status of the loan account.
Reference:
Ext.A8
Case Classification
Case Type
Commercial Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Commercial Court Kozhikode
Common Reasons
Non-payment of rent
Case Code
Case between State Bank of India et al vs Shanoop N.M regarding realisation of loan amount
Case Code Year
Case between State Bank of India et al vs Shanoop N.M regarding realisation of loan amount