Case Summary
The plaintiff, State Bank of India, has filed a suit against the defendant, Naduvil Kayalott Oil Mill, for the recovery of dues under various loan agreements. The defendant defaulted on loan repayments, prompting the plaintiff to seek recovery of the owed amount.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant shall pay an amount of 18,04,083/- with 6% interest per annum from the date of suit till the realisation of the amount.
Case Type
Commercial Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, ordering the defendant to pay the claimed amount along with interest and costs.
Why Plaintiff Won:
The plaintiff provided sufficient documentary evidence to substantiate the loan defaults.
The plaintiff provided sufficient documentary evidence to substantiate the loan defaults.
Losing Side's Weaknesses:
Not available
Not available
Supporting Evidence
A conjoint reading of Exts.A9 to A11 documents specifically proves that now the defendant is liable to pay altogether an amount of 18,04,083/- in the loan transaction.
Judgment Evidence:
In the result the suit is decreed as follows:- 1.Defendant shall pay an amount of 18,04,083/- (Rupees eighteen lakh four thousand and eighty three only) to the plaintiff with 6% interest per annum from the date of suit till the realisation of the amount.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- STATE BANK OF INDIA
- Party Age
- 57
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- NADUVIL KAYALOTT OIL MILL
- Party Age
- 30
- Relation
- W/o
Plaintiffs Documents
Loan application, Sanction Letter, Term loan Agreement, Hypothecation Agreement for term loan, Hypothecation Cum working Agreement, Sanction of Credit facility, Supplemental Agreement Loan cum hypothecation, Lawyer notice.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. Sajeevan. M.V
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Sri. Balakrishnan.E
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Sri. Vaishak.K
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Sri. Binesh Babu. B.N
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendant shall pay an amount of ₹18,04,083 to the plaintiff with interest.
Evidence:
In the result the suit is decreed as follows: 1. Defendant shall pay an amount of 18,04,083/- (Rupees eighteen lakh four thousand and eighty three only) to the plaintiff with 6% interest per annum from the date of suit till the realization of the amount.
Relief Type:
Other
Outcome:
Granted
Description:
Defendant shall pay costs of the suit.
Evidence:
Defendant shall pay costs of the suit.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
The document is the loan application submitted by the defendant before the plaintiff bank.
Reference:
Ext.A1
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
This document proves that the plaintiff bank had sanctioned MTL of ₹12,00,000 and a cash credit limit of ₹7,50,000 to the defendant.
Reference:
Ext.A2
Document Type:
Term loan agreement
Submitted By:
Plaintiff
Relevance:
Executed by the defendant in favour of the plaintiff while availing the loan sanction.
Reference:
Ext.A3
Document Type:
Hypothecation Agreement for term loan
Submitted By:
Plaintiff
Relevance:
Executed by the defendant in favour of the plaintiff while availing the loan sanction.
Reference:
Ext.A4
Document Type:
Hypothecation Cum working Agreement
Submitted By:
Plaintiff
Relevance:
Executed by the defendant in favour of the plaintiff while availing the loan sanction.
Reference:
Ext.A5
Document Type:
Sanction of Credit facility
Submitted By:
Plaintiff
Relevance:
Document reveals that the defendant had filed an application for renewal of working capital limits and term loan limits already availed.
Reference:
Ext.A6
Document Type:
Supplemental Agreement Loan cum hypothecation
Submitted By:
Plaintiff
Relevance:
Executed by the defendant in favour of the plaintiff while availing renewed loan amount.
Reference:
Ext.A7
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
The notice called upon the defendant to pay the defaulted amount before the plaintiff bank.
Reference:
Ext.A8
Document Type:
Certified Copy of the Term Loan Account
Submitted By:
Plaintiff
Relevance:
To prove the transaction between the plaintiff bank and the defendant.
Reference:
Ext.A9
Document Type:
Certified Copy of the WC Loan Account
Submitted By:
Plaintiff
Relevance:
To prove the transaction between the plaintiff bank and the defendant.
Reference:
Ext.A10
Document Type:
Certified Copy of the WC Demand Loan Account
Submitted By:
Plaintiff
Relevance:
To prove the transaction between the plaintiff bank and the defendant.
Reference:
Ext.A11
Document Type:
Pay in Slip Original
Submitted By:
Plaintiff
Relevance:
Related to the plaintiff's accounts and transactions.
Reference:
Ext.A12
Document Type:
Pay in Slip Original
Submitted By:
Plaintiff
Relevance:
Related to the plaintiff's accounts and transactions.
Reference:
Ext.A13
Case Classification
Case Type
Commercial Suit
Category
Other Civil Cases
District
Kozhikode
State
Kerala
Court Establishment
Commercial Court Kozhikode
Common Reasons
Non-payment of rent
Case Code
Case between STATE BANK OF INDIA vs NADUVIL KAYALOTT OIL MILL regarding suit for realisation of amount.
Case Code Year
Case between STATE BANK OF INDIA vs NADUVIL KAYALOTT OIL MILL regarding suit for realisation of amount.