Case Summary
The State Bank of India is suing M/s. Lakshika Boutique and its partners for failure to repay a loan amounting to Rs.10,91,458. The defendants did not appear in court, and the plaintiff presented evidence of the debt.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants are directed to pay an amount of Rs.10,91,458 to the plaintiff.
Case Type
Commercial Suit
Final Judgment
No
The court decreed the suit, ordering the defendants to pay the plaintiff Rs.10,91,458 along with interest and costs.
Why Plaintiff Won:
The plaintiff successfully proved that the defendants failed to repay the loan amount as agreed.
The plaintiff successfully proved that the defendants failed to repay the loan amount as agreed.
Losing Side's Weaknesses:
The plaintiff successfully proved that the defendants failed to repay the loan amount as agreed.
The plaintiff successfully proved that the defendants failed to repay the loan amount as agreed.
Supporting Evidence
The unchallenged oral testimony of PW1 very well goes to show that the defendants availed cash credit facility, and FITL covid loan and FITL loan from the plaintiff bank and renewed the cash credit facility and defaulted repayment.
Judgment Evidence:
In the result, the suit is decreed as follows: Defendants are directed to pay an amount of Rs.10,91,458/-...
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- The State Bank of India
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- M/s. Lakshika Boutique
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Ms. Seethal P.K
- Party Age
- 34
- Relation
- D/o
- Party Role
- Defendant
- Party Name
- Ms. Regith P.R
- Party Age
- 37
- Relation
- S/o
Plaintiffs Documents
Exts. A1 to A22 including loan agreements and recall notices.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. Vinod Singh Cheriyan
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Sri. T.M.Khalid
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Smt. O.Saranya
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Sri. Shynu.H
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Smt. Seema Varghese
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants are directed to pay an amount of Rs.10,91,458/- to the plaintiff.
Evidence:
Accordingly, the suit is decreed directing the defendants to pay the outstanding amount.
Relief Type:
Interest
Outcome:
Granted
Description:
The plaintiff will be entitled for interest at the rate of 6% per annum from the date of the suit till realization of the decree.
Evidence:
The plaintiff will be entitled for interest at the rate of 6% per annum from the date of the suit till realization 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:
Application for Mudra Loan Scheme
Submitted By:
Plaintiff
Relevance:
Submitted as evidence that the defendants availed loan under Mudra Loan Scheme.
Reference:
Ext.A1
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Confirmed the sanction of credit facilities dated 04.03.2017.
Reference:
Ext.A2
Document Type:
Hypothecation cum Working Capital Agreement
Submitted By:
Plaintiff
Relevance:
Executed by the defendants as security for repayment of the cash credit limit.
Reference:
Ext.A3
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Executed by the defendants to guarantee the repayment of the working capital limit.
Reference:
Ext.A4
Document Type:
Letter of arrangement
Submitted By:
Plaintiff
Relevance:
Confirmed the sanction of credit facilities to the defendants.
Reference:
Ext.A5
Document Type:
Supplemental Agreement for Loan cum Hypothecation
Submitted By:
Plaintiff
Relevance:
Executed to secure repayment of additional loans.
Reference:
Ext.A6
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Executed by the defendants for the renewed cash credit limit.
Reference:
Ext.A7
Document Type:
Final recall notice
Submitted By:
Plaintiff
Relevance:
Sent to defendant No.1 as a final reminder for repayment.
Reference:
Ext.A8
Document Type:
Returned Postal cover
Submitted By:
Plaintiff
Relevance:
Evidence of non-delivery of the recall notice to defendant No.1.
Reference:
Ext.A9
Document Type:
Final recall notice
Submitted By:
Plaintiff
Relevance:
Sent to defendant No.2 as a final reminder for repayment.
Reference:
Ext.A10
Document Type:
Returned Postal cover
Submitted By:
Plaintiff
Relevance:
Evidence of non-delivery of the recall notice to defendant No.2.
Reference:
Ext.A11
Document Type:
Final recall notice
Submitted By:
Plaintiff
Relevance:
Sent to defendant No.3 as a final reminder for repayment.
Reference:
Ext.A12
Document Type:
Acknowledgment card
Submitted By:
Plaintiff
Relevance:
Confirmation of notice receipt by defendant No.3.
Reference:
Ext.A13
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Detailed account of the loan transactions for WCTL.
Reference:
Ext.A14
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Detailed account of the loan transactions for FITL.
Reference:
Ext.A15
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Detailed account of the loan transactions for another FITL.
Reference:
Ext.A16
Document Type:
RBI Circular
Submitted By:
Plaintiff
Relevance:
Reference to the governing RBI regulations.
Reference:
Ext.A17
Document Type:
RBI Circular
Submitted By:
Plaintiff
Relevance:
Reference to another governing RBI regulation.
Reference:
Ext.A18
Document Type:
Interest Statement
Submitted By:
Plaintiff
Relevance:
Showing accrued interest on the loan account.
Reference:
Ext.A19
Document Type:
Interest Statement
Submitted By:
Plaintiff
Relevance:
Showing accrued interest on the FITL loan account.
Reference:
Ext.A20
Document Type:
Interest Statement
Submitted By:
Plaintiff
Relevance:
Showing accrued interest on another FITL loan account.
Reference:
Ext.A21
Document Type:
Non Starter Report
Submitted By:
Plaintiff
Relevance:
Report indicating the defendants' failure to start loan repayment.
Reference:
Ext.A22
Case Classification
Case Type
Commercial Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Commercial Court Kozhikode
Common Reasons
Recovery of money
Case Code
Case between The State Bank of India vs M/s. Lakshika Boutique et al regarding realisation of loan amount.
Case Code Year
Case between The State Bank of India vs M/s. Lakshika Boutique et al regarding realisation of loan amount.