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
The court decreed that the defendant must pay the plaintiff Rs.3,71,166/- along with interest as specified. The judgment obliges the defendant to satisfy the debt personally and through his assets.
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.
Losing Side's Weaknesses:
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.
Supporting Evidence
On perusal of the plaint, proof affidavit and documents produced, I am of the view that plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.3,71,166/- with interest from defendant.
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
Parties
- Party Role
- Plaintiff
- Party Name
- State Bank of India
- Relation
- represented by its Branch Manager
- Party Role
- Defendant
- Party Name
- Varghese P T
- Party Age
- 57
- Relation
- S/o PV Thomas
Plaintiffs Documents
Letter of arrangement, Hypothecation agreement, Office copy of Legal notice, Returned Postal cover
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Smitha C Gopi
- Appearance Type
- Main Counsel
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
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Recovery of money
Case Code
Case between State Bank of India vs Varghese P T regarding realization of money.
Case Code Year
Case between State Bank of India vs Varghese P T regarding realization of money.