Case Summary
State Bank of India filed a suit against Varghese P T for repayment of a loan amounting to Rs.3,71,166/- that was defaulted on. The bank represented by its Branch Manager sought recovery through judicial means after multiple demands were ignored.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant shall pay Rs.3,71,166/- along with interest @12% per annum and costs of the suit.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
Plaintiff established a case for recovery based on the unchallenged evidence of loan default.
Plaintiff established a case for recovery based on the unchallenged evidence of loan default.
Judgment Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.3,71,166/- (Rupees Three lakhs seventy one thousand one hundred and sixty six only) along with interest @12% per annum from the date of suit till the date of decree and 6% from the date of decree till payment or realization, as the case may be, to the plaintiff.
Parties Involved
Plaintiffs
State Bank of India (Age not specified years)
Kalamassery Branch, Shanu Tower, North Kalamassery, Kalamassery P O, Pin - 683 104, Trikkakkara North Village, Kanayanoor Taluk, Ernakulam District
Defendants
Varghese P T (57 years years)
Arackal House, Changampuzha Nagar, Thrikkakara North, Pin - 682 033, South Kalamassery, Trikkakkara North Village, Kanayanoor Taluk, Ernakulam District
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to realize an amount of Rs.3,71,166/- with interest from defendant.
Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.3,71,166/- (Rupees Three lakhs seventy one thousand one hundred and sixty six only) along with interest @12% per annum from the date of suit till the date of decree and 6% from the date of decree till payment or realization, as the case may be, to the plaintiff.
Relief Type:
Declaration
Outcome:
Granted
Description:
Defendant shall be personally and his assets shall also be liable to satisfy the decree debt.
Evidence:
Defendant shall be personally and his assets shall also be liable to satisfy the decree debt.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff is entitled to realize the costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Letter of arrangement
Submitted By:
Plaintiff
Relevance:
This document is referred to as the letter of arrangement related to the loan taken by the defendant.
Reference:
Ext.A1
Document Type:
Loan Agreement
Submitted By:
Plaintiff
Relevance:
This loan agreement executed by the defendant evidences the loan transaction.
Reference:
Ext.A2
Document Type:
Office copy of legal notice
Submitted By:
Plaintiff
Relevance:
This legal notice was issued to the defendant demanding repayment of the outstanding loan amount.
Reference:
Ext.A3
Document Type:
Returned Postal cover
Submitted By:
Plaintiff
Relevance:
This returned cover indicates that the defendant evaded the legal notice.
Reference:
Ext.A4