Case Summary
The case involves the State Bank of India as the plaintiff seeking to recover a loan amount from M/s. Mannequin Code. The defendants defaulted on the repayment of a cash credit facility and the suit seeks to recover the outstanding amount with interest.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff bank is allowed to recover Rs.8,51,083.57 together with interest at the rate of 9% per annum.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, allowing them to recover the owed amount with interest. The plaintiff is also awarded costs of the suit.
Why Plaintiff Won:
The plaintiff's claims were supported by unrebutted evidence and documents.
The plaintiff's claims were supported by unrebutted evidence and documents.
Losing Side's Weaknesses:
The plaintiff's claims were supported by unrebutted evidence and documents.
The plaintiff's claims were supported by unrebutted evidence and documents.
Supporting Evidence
From the unrebutted evidence of PW1 and from Exts.A1 to A8 documents the plaint averments stands proved.
Judgment Evidence:
In the result, suit is decreed as follows: A) The plaintiff bank is allowed to recover Rs.8,51,083.57 together with interest at the rate of 9% per annum from the date of suit till the date of decree, and thereafter @ 6% per annum from the date of decree till entire realization in full from the defendants and their assets.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- State Bank of India
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- M/s. Mannequin Code
- Party Role
- Defendant
- Party Name
- Suhail Noushad
- Party Age
- 29
- Relation
- S/o
Plaintiffs Documents
Letter of arrangement dated 23.06.2016, Agreement of loan cum hypothecation dated 23.06.2016, Revival letter dated 10.05.2021, Account statement with correct interest application, Computer printout of statement of account.
Defendants Documents
Nil.
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Damodaran.V
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Anil V.R
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Kasyap Vishnu
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff bank is allowed to recover Rs.8,51,083.57 with interest.
Evidence:
the plaintiff bank is entitled to realise the said amount with interest at the rate of 9.60% per annum with monthly rests from the date of suit till realisation.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff bank is entitled to recover the costs of the suit.
Evidence:
The plaintiff bank is also entitled to get the costs of the suit from the defendants.
Documents & Evidence
Document Type:
Letter of arrangement
Submitted By:
Plaintiff
Relevance:
This document outlines the arrangement for the loan facility provided to the defendants.
Reference:
Ext.A1
Document Type:
Agreement of loan cum hypothecation
Submitted By:
Plaintiff
Relevance:
This document is the agreement that details the loan terms and hypothecation of assets.
Reference:
Ext.A2
Document Type:
Revival Letter
Submitted By:
Plaintiff
Relevance:
Acknowledges the liability on part of the defendants for the loan.
Reference:
Ext.A3
Document Type:
Account Statement with correct interest application
Submitted By:
Plaintiff
Relevance:
This document shows the account transactions and interest calculations relevant to the loan.
Reference:
Ext.A4
Document Type:
Computer printout of statement of account for the period from 01.06.2016 to 31.03.2018
Submitted By:
Plaintiff
Relevance:
Provides detailed transaction history relevant to the loan.
Reference:
Ext.A5
Document Type:
Office copy of lawyer notice
Submitted By:
Plaintiff
Relevance:
This document is the lawyer's notice sent to the defendants regarding the settlement of the loan.
Reference:
Ext.A6
Document Type:
Postal Acknowledgment Card
Submitted By:
Plaintiff
Relevance:
Confirms receipt of the lawyer's notice by the defendants.
Reference:
Ext.A7
Document Type:
Deposit/Pay in Slip
Submitted By:
Plaintiff
Relevance:
This document relates to the payment transactions made by the defendants.
Reference:
Ext.A8
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Non-payment of rent
Case Code
Case between State Bank of India vs M/s. Mannequin Code regarding realisation of money.
Case Code Year
Case between State Bank of India vs M/s. Mannequin Code regarding realisation of money.