Case Summary
The plaintiff, Ace Finlease Pvt. Ltd, is seeking to recover a loan amount from the defendants, Harshad. O and Sunilkumar. K.M, who have defaulted on payments. The court found in favor of the plaintiff, allowing the claim for the outstanding amount.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendants are directed to pay Rs. 69,300/- jointly and severally to the plaintiff with interest.
Case Type
Original Suit
Final Judgment
No
The court decreed that the defendants are liable to pay the outstanding amount of Rs. 69,300/- to the plaintiff along with interest. The defendants have been found jointly and severally liable for the debt.
Why Plaintiff Won:
The plaintiff proved the claim of borrowal and the default of the payments through evidence.
The plaintiff proved the claim of borrowal and the default of the payments through evidence.
Losing Side's Weaknesses:
The plaintiff proved the claim of borrowal and the default of the payments through evidence.
The plaintiff proved the claim of borrowal and the default of the payments through evidence.
Supporting Evidence
The plaint claim of borrowal of the amount, the default of the payments is proved by the affidavit of PW1 and documents No.A1 to A5.
Judgment Evidence:
In the result, the suit is decreed as follows: 1. The defendants are directed to pay Rs. 69,300/- (Rupees Sixty Nine Thousand And Three Hundred Only) jointly and severally to the plaintiff with an interest at the rate of 7% till the date of decree and thereafter at the rate of 6% per annum till realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Ace Finlease Pvt. Ltd
- Relation
- Company represented by its Power of Attorney Holder and Assistant Recovery Manager, M.K. Rajesh
- Party Role
- Defendant
- Party Name
- Harshad. O
- Party Age
- 33
- Relation
- S/o Ali
- Party Role
- Defendant
- Party Name
- Sunilkumar. K.M
- Party Age
- 41
- Relation
- S/o Govindan
Plaintiffs Documents
Certified Copy of Power of Attorney, Loan Agreement executed between Plaintiff and Defendant, Promissory Note, Encumbrance Certificate, Certified extract of computerized customer ledger report from 26.09.2022 to 17.08.2023
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Smt. Sheela.T
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Sri. C.K. Preman
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendants are directed to pay Rs.69,300/- jointly and severally to the plaintiff.
Evidence:
The defendants are directed to pay Rs.69,300/- (Rupees Sixty Nine Thousand And Three Hundred Only) jointly and severally to the plaintiff with an interest at the rate of 7% till the date of decree and thereafter at the rate of 6% per annum till realization.
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendants are directed to pay the costs of the suit to the plaintiff.
Evidence:
The defendants are also directed to pay jointly and severally the costs of the suit to the plaintiff.
Documents & Evidence
Document Type:
Power of Attorney
Submitted By:
Plaintiff
Relevance:
Certified Copy of Power of Attorney for the plaintiff.
Reference:
Ext.A1
Document Type:
Loan Agreement
Submitted By:
Plaintiff
Relevance:
Loan Agreement executed between Plaintiff and Defendant.
Reference:
Ext.A2
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
Promissory note executed by the defendants promising payment.
Reference:
Ext.A3
Document Type:
Encumbrance certificate
Submitted By:
Plaintiff
Relevance:
Encumbrance Certificate related to the loan agreement.
Reference:
Ext.A4
Document Type:
Customer Ledger Report
Submitted By:
Plaintiff
Relevance:
Certified extract of computerized customer ledger report from the date of loan to the date mentioned in the judgment.
Reference:
Ext.A5
Case Classification
Case Type
Original Suit
Category
Other Civil Cases
District
Kozhikode
State
Kerala
Court Establishment
Munsiff Court 2 Kozhikode
Common Reasons
Case Code
Case between Ace Finlease Pvt. Ltd vs Harshad. O et al regarding realization of money.
Case Code Year
Case between Ace Finlease Pvt. Ltd vs Harshad. O et al regarding realization of money.