Case Summary
Ace Finlease Pvt Ltd filed a suit for the realization of money from the defendants for a loan agreement. The defendants defaulted on the repayment of the loan.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendants are directed to pay jointly and severally Rs.70,900/- with interest at the rate of 7% per annum from the date of the suit till the date of decree.
Case Type
Civil Suit
Final Judgment
No
The suit was decreed for the plaintiff for the recovery of the loan amount along with interest. The defendants are ordered to pay the due amount with interest and costs.
Why Plaintiff Won:
The plaintiff's claim of borrowal and default of payment stands proved by the affidavit of PW1 and Exhibits A2 to A5 documents which remains unchallenged.
The plaintiff's claim of borrowal and default of payment stands proved by the affidavit of PW1 and Exhibits A2 to A5 documents which remains unchallenged.
Losing Side's Weaknesses:
The plaintiff's claim of borrowal and default of payment stands proved by the affidavit of PW1 and Exhibits A2 to A5 documents which remains unchallenged.
The plaintiff's claim of borrowal and default of payment stands proved by the affidavit of PW1 and Exhibits A2 to A5 documents which remains unchallenged.
Supporting Evidence
The plaintiff's claim of borrowal and default of payment stands proved by the affidavit of PW1 and Exhibits A2 to A5 documents which remains unchallenged.
Judgment Evidence:
In the result, suit is decreed as follows: 1. The defendants are directed to pay jointly and severally Rs.70,900/- (Rupees Seventy Thousand And Nine Hundred Only) to the plaintiff with interest at the rate of 7% per annum from the date of the suit till the date of decree and thereafter with interest at the rate of 6% per annum till realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Ace Finlease Pvt Ltd
- Party Role
- Defendant
- Party Name
- Jinu.K
- Party Age
- 45
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Ali. K
- Party Age
- 69
- Relation
- S/o
Plaintiffs Documents
Copy of Power of attorney, Loan agreement, Promissory note, Encumbrance certificate, Statement of account
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri.C.K.Preman
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Smt.Sheela.T
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendants are directed to pay jointly and severally Rs.70,900/- to the plaintiff.
Evidence:
The defendants are directed to pay jointly and severally Rs.70,900/- (Rupees Seventy Thousand And Nine Hundred Only) to the plaintiff with interest at the rate of 7% per annum from the date of the suit till the date of decree and thereafter with interest at the rate of 6% per annum till realization.
Relief Type:
Other
Outcome:
Granted
Description:
The defendants are directed to pay costs of the suit to the plaintiff.
Evidence:
The plaintiff is entitled to get the costs of the suit.
Documents & Evidence
Document Type:
Power of Attorney
Submitted By:
Plaintiff
Relevance:
This document establishes the authority of the plaintiff's representative.
Reference:
Ext.A1
Document Type:
Loan Agreement
Submitted By:
Plaintiff
Relevance:
This document contains the terms of the loan availed by the defendant.
Reference:
Ext.A2
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
This document indicates the defendants' promise to pay the loan amount.
Reference:
Ext.A3
Document Type:
Encumbrance certificate
Submitted By:
Plaintiff
Relevance:
This document provides information regarding any encumbrances on the property.
Reference:
Ext.A4
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
This document shows the account details and outstanding payments due from the defendants.
Reference:
Ext.A5
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Munsiff Court 2 Kozhikode
Common Reasons
Non-payment of rent
Case Code
Case between Ace Finlease Pvt Ltd vs Jinu.K et al regarding money realization.
Case Code Year
Case between Ace Finlease Pvt Ltd vs Jinu.K et al regarding money realization.