Case Summary
The State Bank of India filed a suit against Athira Raveendran for recovery of a loan amount of ₹11,74,367/- along with interest. The defendant defaulted on the repayment of the sanctioned loan amount.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant is directed to pay an amount of ₹11,74,367/- to the plaintiff.
Case Type
Commercial Suit
Final Judgment
No
The court decreed that the defendant, Athira Raveendran, must pay the State Bank of India the amount of ₹11,74,367/- along with specified interest.
Why Plaintiff Won:
Plaintiff successfully proved the defendant had availed the loan and defaulted on repayment.
Plaintiff successfully proved the defendant had availed the loan and defaulted on repayment.
Losing Side's Weaknesses:
Plaintiff successfully proved the defendant had availed the loan and defaulted on repayment.
Plaintiff successfully proved the defendant had availed the loan and defaulted on repayment.
Supporting Evidence
I am satisfied that the plaintiff has successfully proved that the defendant had availed loan from the plaintiff bank as stated in the plaint.
Judgment Evidence:
In the result, the suit is decreed as follows: Defendant is directed to pay an amount of ₹11,74,367/- to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- The State Bank of India
- Party Role
- Defendant
- Party Name
- Athira Raveendran
- Party Age
- 31
- Relation
- D/o
Plaintiffs Documents
Loan Application, Letter of arrangement, Agreement of Loan-cum hypothecation, Copy of Lawyer notice, Acknowledgment card, True extract of the Account statement, True copy of the certificate showing the unapplied, but accrued interest in respect of the Cash Credit Limit.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. Vinod Singh Cheriyan
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff sought recovery of an amount due from the defendant.
Evidence:
In the result, the suit is decreed as follows: Defendant is directed to pay an amount of 11,74,367/- (Rupees eleven lakh seventy four thousand three hundred and sixty seven only) to the plaintiff.
Relief Type:
Interest
Outcome:
Granted
Description:
The plaintiff is entitled to interest on the recovered amount.
Evidence:
The plaintiff will be entitled for interest at the rate of 9% per annum from the date of the suit (29-11-2024) till the date of decree and thereafter at the rate of 6% per annum till realisation of the decree.
Relief Type:
Costs
Outcome:
Granted
Description:
The plaintiff is entitled for costs of the suit.
Evidence:
The plaintiff will be entitled for costs of the suit.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
The loan application executed by the defendant for availing the loan.
Reference:
Ext.A1
Document Type:
Letter of arrangement
Submitted By:
Plaintiff
Relevance:
The letter confirming the arrangement for the loan amount sanctioned.
Reference:
Ext.A2
Document Type:
Agreement of Loan-cum hypothecation
Submitted By:
Plaintiff
Relevance:
The agreement executed by the defendant to repay the loan amount and interest.
Reference:
Ext.A3
Document Type:
Copy of Lawyer Notice
Submitted By:
Plaintiff
Relevance:
The notice sent to the defendant regarding the loan default.
Reference:
Ext.A4
Document Type:
Acknowledgment card
Submitted By:
Plaintiff
Relevance:
The acknowledgment received concerning the loan-related communications.
Reference:
Ext.A5
Document Type:
True extract of the Account statement
Submitted By:
Plaintiff
Relevance:
The account statement showing the transactions related to the loan.
Reference:
Ext.A6
Document Type:
Certificate showing unapplied interest
Submitted By:
Plaintiff
Relevance:
The certificate indicating the accumulated but unapplied interest.
Reference:
Ext.A7
Document Type:
Copy of RBI Circular
Submitted By:
Plaintiff
Relevance:
The RBI circular relevant to banking operations in this context.
Reference:
Ext.A8
Document Type:
Copy of RBI Circular
Submitted By:
Plaintiff
Relevance:
Another RBI circular pertinent to the case.
Reference:
Ext.A9
Document Type:
Interest Statement
Submitted By:
Plaintiff
Relevance:
The statement detailing the interest accrued on the loan amount.
Reference:
Ext.A10
Document Type:
Copy of Non-starter Report
Submitted By:
Plaintiff
Relevance:
The report indicating the non-starter status of certain bank accounts.
Reference:
Ext.A11
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 Loan
Case Code
Case between The State Bank of India vs Athira Raveendran regarding realisation of an amount.
Case Code Year
Case between The State Bank of India vs Athira Raveendran regarding realisation of an amount.