Case Summary
The plaintiff, State Bank of India, provided an education loan to the first defendant with the second defendant as guardian. The defendants defaulted on the loan repayment, prompting the bank to file this suit for recovery.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.1,48,797/- along with interest.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff established its claim by presenting unchallenged evidence.
The plaintiff established its claim by presenting unchallenged evidence.
Judgment Evidence:
In the result, suit is decreed as follows: 1) Defendants shall pay Rs.1,48,797/- (Rupees One lakh forty eight thousand seven hundred and ninety seven only) along with interest @ 9.7% per annum 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
Plaintiffs
Indu T (46 years)
1st Floor, Vankarath Towers, Pipeline Road, Bypass Junction, Palarivattom, Ernakulam 682024
Defendants
Midhula Bhuvanendran (23 years)
Madayil, Mangalam ward, Kanjiram chira P O, Alappuzha North-688007
Bhuvanendran T G (58 years)
Madayil, Mangalam ward, Kanjiram chira P O, Alappuzha North-688007
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover Rs.1,48,797/- with interest.
Evidence:
I am of the view that plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.1,48,797/- with interest from the defendants.
Relief Type:
Recovery
Outcome:
Granted
Description:
Interest to be paid at the rate of 9.7% per annum and 6% thereafter.
Evidence:
Defendants shall pay interest at the rate of 9.7% per annum from the date of suit till the date of decree, and 6% from the date of decree till the date of payment or realization, as the case may be, to the plaintiff.
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Application for Educational Loan
Submitted By:
Plaintiff
Relevance:
This document shows the request for the educational loan by defendants.
Reference:
Ext.A1
Document Type:
Arrangement letter for Term Loan under Education Loan Schemes
Submitted By:
Plaintiff
Relevance:
This document evidences the arrangement for the educational loan.
Reference:
Ext.A2
Document Type:
Agreement between plaintiff and defendants
Submitted By:
Plaintiff
Relevance:
This agreement specifies the terms of the loan including repayment.
Reference:
Ext.A3
Document Type:
Postal Cover of Legal Notice
Submitted By:
Plaintiff
Relevance:
This document indicates the legal notice sent to the defendants regarding default.
Reference:
Ext.A4
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
This document shows the financial details of the loan account.
Reference:
Ext.A5
Document Type:
Statement of Unapplied Interest
Submitted By:
Plaintiff
Relevance:
This document details the unapplied interest as of a specific date.
Reference:
Ext.A6
Document Type:
Office copy of legal notice
Submitted By:
Plaintiff
Relevance:
This document serves as a formal copy of the legal notice issued to the defendants.
Reference:
Ext.A7