Case Summary
The plaintiff, State Bank of India, initiated a suit against the defendant, Shanavas.S., for the recovery of money related to a loan default. The case involves the defendant's failure to repay loans taken for business purposes under the Mudra Scheme.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Amount of Rs.6,46,057/-, Rs.49,040/- and Rs.1,93,118/- with interest
Case Type
Civil Suit
Final Judgment
No
The court decreed in favor of the plaintiff for the recovery of the outstanding loan amounts due from the defendant. The amounts to be paid include interest and costs.
Why Plaintiff Won:
The plaintiff provided sufficient oral and documentary evidence that established the defendant's indebtedness.
The plaintiff provided sufficient oral and documentary evidence that established the defendant's indebtedness.
Losing Side's Weaknesses:
The plaintiff provided sufficient oral and documentary evidence that established the defendant's indebtedness.
The plaintiff provided sufficient oral and documentary evidence that established the defendant's indebtedness.
Supporting Evidence
The oral as well as documentary evidence adduced from the side of plaintiff bank clearly established that the defendant is indebted to the plaintiff bank. The present rate of the interest applicable is at the rate of 10.8% per annum with monthly rests.
Judgment Evidence:
In the result, the suit is decreed with costs as follows: The plaintiff is entitled to realise an amounts of Rs.6,46,057/- (Rupees Six Lakhs Forty Six Thousand and Fifty Seven only) and Rs. 49,040/- (Rupees Forty Nine Thousand and Forty only) and Rs. 1,93,118 (Rupees One Lakh Ninety Three Thousand One Hundred and Eighteen only) due as on 10/07/2024 with interests at the rate of 10.8% per annum from the date of the suit till the date of decree and at the rate of 6% per annum from the date of decree till realisation with costs, from the defendant and his assets.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- State Bank of India
- Party Role
- Defendant
- Party Name
- Shanavas.S.
- Party Age
- 34
- Relation
- S/o
Plaintiffs Documents
Letter of Arrangement, Agreement of Loan-cum Hypothecation, Supplemental Agreement of Loan cum Hypothecation, Demand Notice, Statement of Accounts
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- T.K.Jayakumari
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Devalekshmi.M.
- Appearance Type
- Assisting Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff's entitlement to recover amounts due along with interest.
Evidence:
Hence, the plaintiff is entitled to recover the amount of 6,46,057/- (Rupees Six Lakhs Forty Six Thousand and Fifty Seven only) and Rs. 49,040/- (Rupees Forty Nine Thousand and Forty only) and Rs. 1,93,118 (Rupees One Lakh Ninety Three Thousand One Hundred and Eighteen only) with future interests at the rate of 10.8% per annum with monthly rests from the date of the suit till realization from the defendants and his assets.
Relief Type:
Costs
Outcome:
Granted
Description:
Recover costs associated with the suit.
Evidence:
Hence, there is no reason to deviate from the rule “costs shall follow the event.”
Documents & Evidence
Document Type:
Letter of arrangement
Submitted By:
Plaintiff
Relevance:
Proves the initial terms of the loan dated 08/05/2019.
Reference:
Ext.A1
Document Type:
Agreement of Loan-cum hypothecation
Submitted By:
Plaintiff
Relevance:
Establishes the security for the loan availed by the defendant.
Reference:
Ext.A2
Document Type:
Letter of arrangement
Submitted By:
Plaintiff
Relevance:
Details the loan arrangement dated 12/06/2020.
Reference:
Ext.A3
Document Type:
Supplemental Agreement of Loan Cum Hypothecation
Submitted By:
Plaintiff
Relevance:
Modifies the terms of the previous loan agreement.
Reference:
Ext.A4
Document Type:
Arrangement Letter
Submitted By:
Plaintiff
Relevance:
Further clarifies the loan arrangements on 15/07/2021.
Reference:
Ext.A5
Document Type:
Supplemental Agreement of Loan Cum Hypothecation
Submitted By:
Plaintiff
Relevance:
Documents the updated loan terms as per the agreement on 15/07/2021.
Reference:
Ext.A6
Document Type:
True copy of Demand Notice
Submitted By:
Plaintiff
Relevance:
Serves as proof of demand for repayment sent to the defendant.
Reference:
Ext.A7
Document Type:
Postal Receipts
Submitted By:
Plaintiff
Relevance:
Confirms the postal delivery of the demand notice.
Reference:
Ext.A8
Document Type:
Returned Registered Notice
Submitted By:
Plaintiff
Relevance:
Indicates that the demand notice was returned undelivered.
Reference:
Ext.A9
Document Type:
Statement of Accounts for the period from 15-07-2021 to 10-07-2024
Submitted By:
Plaintiff
Relevance:
Provides a summary of financial transactions relating to the loan.
Reference:
Ext.A10
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Offers detailed account information pertinent to the loans.
Reference:
Ext.A11
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kollam
State
Kerala
Court Establishment
Munsiff Court Kollam
Common Reasons
Non-payment of rent
Case Code
Case between State Bank of India vs Shanavas.S. regarding Realisation of Money
Case Code Year
Case between State Bank of India vs Shanavas.S. regarding Realisation of Money