Case Summary
The plaintiff, State Bank of India, filed a suit against the defendant, Pace Communications, for recovery of a loan amount. The defendant defaulted on the loan repayments, leading to this legal action.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Rs. 3,25,347.80 to be realized from the defendants and their assets.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The unrebutted oral testimony of the plaintiff's witness and documentary evidence supported the plaintiff's claim.
The unrebutted oral testimony of the plaintiff's witness and documentary evidence supported the plaintiff's claim.
Judgment Evidence:
In the result, suit is decreed as follows. 1. Plaintiffs are entitled to realize Rs. 3,25,347.80 from the defendants and from their assets.
Parties Involved
Plaintiffs
State Bank of India (Age not specified years)
Vankarath Towers, NH Bye Pass Jn, Padivattom, Cochin682 024
Defendants
Pace Communications (35 years)
1st Floor, EBRA43, Near New Life Fellowship Church, BlossomCochin Road, Elamkulam, Kadavanthra, Cochin682020.
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiffs are entitled to realize Rs. 3,25,347.80 from the defendants.
Evidence:
In the result, suit is decreed as follows. Plaintiffs are entitled to realize Rs. 3,25,347.80 from the defendants and from their assets.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiffs are entitled to realize interest @ 11.60% per annum from the date of suit.
Evidence:
Plaintiffs are entitled to realize interest @ 11.60% per annum for Rs. 3,25,347.80 from the date of suit till date decree from the defendants.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiffs are entitled to realize interest @ 6% per annum from date of decree till date of realization.
Evidence:
Plaintiffs are entitled to realize interest @ 6% per annum for Rs. 3,25,347.80 from date of decree till date of realization from the defendants.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiffs are entitled to realize costs of the suit from defendants.
Evidence:
Plaintiffs are entitled to realize costs of the suit from defendants and from their assets.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Original loan application filed by the defendant.
Reference:
Ext.A1
Document Type:
Letter of arrangement
Submitted By:
Plaintiff
Relevance:
Original letter of arrangement issued by the plaintiff.
Reference:
Ext.A2
Document Type:
Loan cum hypothecation agreement
Submitted By:
Plaintiff
Relevance:
Original agreement of loan-cum-hypothecation.
Reference:
Ext.A3
Document Type:
Notice
Submitted By:
Plaintiff
Relevance:
Copy of the notice issued by the plaintiff bank.
Reference:
Ext.A4
Document Type:
Lawyer's Notice
Submitted By:
Plaintiff
Relevance:
Copy of lawyer's notice dated 15.01.2019.
Reference:
Ext.A5
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Certified copy of the terms of loan account.
Reference:
Ext.A6
Document Type:
Oral Evidence
Submitted By:
Unknown
Relevance:
The unrebutted oral testimony of PW1 established the plaintiff's case.
Reference: