Case Summary
The plaintiff, State Bank of India, is seeking to recover an outstanding loan amount from the defendant, Mr. Prasoon Raj.C, who failed to comply with the repayment terms of a loan. The defendant has been set ex-parte due to absence from the proceedings.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
An amount of 11,32,957/- with interest at the rate of 6% per annum and costs of the suit.
Case Type
Commercial Suit
Final Judgment
No
The suit has been decreed in favor of the plaintiff, directing the defendant to pay the outstanding amount along with interest and costs.
Why Plaintiff Won:
The unchallenged oral testimony of the plaintiff's witness and the marked documents proved the defendant's liability to repay the loan.
The unchallenged oral testimony of the plaintiff's witness and the marked documents proved the defendant's liability to repay the loan.
Losing Side's Weaknesses:
The unchallenged oral testimony of the plaintiff's witness and the marked documents proved the defendant's liability to repay the loan.
The unchallenged oral testimony of the plaintiff's witness and the marked documents proved the defendant's liability to repay the loan.
Supporting Evidence
The unchallenged oral testimony of PW1 coupled with Exts.A1 to A7 documents very well show that the defendant failed to repay the term loan with interest to plaintiff.
Judgment Evidence:
In the result, the suit is decreed as follows: 1.The defendant is directed to pay an amount of 11,32,957/- (Rupees eleven lakh thirty two thousand nine hundred fifty seven only) to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- STATE BANK OF INDIA
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Mr. PRASOON RAJ.C
- Party Age
- 37
- Relation
- S/o
Plaintiffs Documents
Loan application form Pradhan Mantri Mudra Yojana, Letter of arrangement, Addendum to Arrangement Letter, Loan-cum-hypothecation agreement, Notice with acknowledgment, Non Starter Report, Statement of account.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. E. Balakrishnan
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Sri. Sajeevan. M.V
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendant is directed to pay the outstanding amount to the plaintiff.
Evidence:
Accordingly, the suit is liable to be decreed directing the defendant to pay the outstanding amount.
Relief Type:
Interest
Outcome:
Granted
Description:
The plaintiff will be entitled to interest on the amount from the date of the suit till realization.
Evidence:
The plaintiff will be entitled for an interest at the rate of 6% per annum from the date of the suit till realisation of the decree.
Relief Type:
Costs
Outcome:
Granted
Description:
The plaintiff will be entitled for costs of the suit.
Evidence:
The plaintiff will be entitled for costs of the suit.
Documents & Evidence
Document Type:
Loan application form Pradhan Manthri Mudra Yojana
Submitted By:
Plaintiff
Relevance:
The document evidences the application for the loan facility availed by the defendant.
Reference:
Ext.A1
Document Type:
Letter of arrangement
Submitted By:
Plaintiff
Relevance:
This document outlines the terms of the loan sanctioned to the defendant.
Reference:
Ext.A2
Document Type:
Addendum to Arrangement Letter
Submitted By:
Plaintiff
Relevance:
This document is an addendum to the original loan arrangement detailing additional terms.
Reference:
Ext.A3
Document Type:
Loan-cum hypothecation agreement
Submitted By:
Plaintiff
Relevance:
This agreement hypothecates the collateral for the loan extended to the defendant.
Reference:
Ext.A4
Document Type:
Copy of Notice with Acknowledgment
Submitted By:
Plaintiff
Relevance:
This is the notice issued to the defendant requesting regularization of the loan account.
Reference:
Ext.A5
Document Type:
Non-starter report
Submitted By:
Plaintiff
Relevance:
This report indicates the status of the loan account as not being active.
Reference:
Ext.A6
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
This document shows the outstanding amount due from the defendant.
Reference:
Ext.A7
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 STATE BANK OF INDIA vs Mr. PRASOON RAJ.C regarding realisation of amount
Case Code Year
Case between STATE BANK OF INDIA vs Mr. PRASOON RAJ.C regarding realisation of amount