Case Summary
The Federal Bank Limited filed a suit against Sri. Arun Antony and Smt. Cicily Joseph for the realization of a loan amount. The defendants defaulted on the repayment of the loan taken for pursuing an MBA, leading to this legal action.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.4,91,933.63/- along with interest @16.28% per annum from the date of suit till the date of decree and 6% from the date of decree till payment or realization.
Case Type
Civil Suit
Final Judgment
No
The court decreed that the defendants are liable to pay the plaintiff an amount of Rs.4,91,933.63 along with applicable interest. The court also directed the defendants to meet the costs of the proceedings.
Why Plaintiff Won:
The plaintiff successfully established the case based on the evidence and documents presented.
The plaintiff successfully established the case based on the evidence and documents presented.
Losing Side's Weaknesses:
The plaintiff successfully established the case based on the evidence and documents presented.
The plaintiff successfully established the case based on the evidence and documents presented.
Supporting Evidence
On perusal of all the documents produced by the plaintiff, it is evident that 1st and 2nd defendants have availed the loan for the period of 2015-2017. Hence this court is satisfied that the suit is not barred by limitation.
Judgment Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.4,91,933.63/- along with interest @16.28% 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
- The Federal Bank Limited
- Party Role
- Defendant
- Party Name
- Sri. Arun Antony
- Party Age
- 26
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Smt. Cicily Joseph
- Party Age
- 51
- Relation
- W/o
Plaintiffs Documents
Agreement for Federal Special Vidya Loan Scheme, Promissory note, Security delivery letter, Balance confirmation letter, Demand notice.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Madhusoodanan K
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Paul T G
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Mathew Jacob
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Syriac Joseph
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- B R Muraleedharan
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- K V Sanosh
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff sought recovery of the loan amount with interest.
Evidence:
The court is satisfied that plaintiff has succeeded in establishing the case and is entitled for a decree.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff is entitled to recover the costs of the suit from the defendants.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Agreement for Federal Special Vidya Loan Scheme
Submitted By:
Plaintiff
Relevance:
This document evidences the agreement between the plaintiff and defendants for the loan availed.
Reference:
Ext.A1
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
This document serves as a promise by the defendants to repay the loan amount.
Reference:
Ext.A2
Document Type:
Security Delivery Letter
Submitted By:
Plaintiff
Relevance:
It provides details on the security provided against the loan.
Reference:
Ext.A3
Document Type:
Balance Confirmation Letter
Submitted By:
Plaintiff
Relevance:
This letter acknowledges the debt and confirms the balance outstanding in the loan account.
Reference:
Ext.A4
Document Type:
Demand Notice
Submitted By:
Plaintiff
Relevance:
This document is the notice issued to the defendants demanding repayment.
Reference:
Ext.A5
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
It is the notice served by the plaintiff's lawyer regarding the loan.
Reference:
Ext.A6
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
This account statement shows the transactions related to the loan.
Reference:
Ext.A7
Document Type:
Educational Loan application
Submitted By:
Plaintiff
Relevance:
This document is the original application submitted for the educational loan.
Reference:
Ext.A8
Document Type:
Statement of account for the Savings bank Account
Submitted By:
Plaintiff
Relevance:
This document shows that the loan amounts were credited to the defendants' savings account.
Reference:
Ext.A9
Document Type:
Letter acknowledging receipt of demand draft
Submitted By:
Plaintiff
Relevance:
This letter acknowledges the receipt of the demand draft for semester fees.
Reference:
Ext.A10
Document Type:
Request letter for payment of 2nd semester fee
Submitted By:
Plaintiff
Relevance:
This letter requests payment for the second semester fees.
Reference:
Ext.A11
Document Type:
Copy of demand draft
Submitted By:
Plaintiff
Relevance:
This document is a copy of the demand draft related to payments.
Reference:
Ext.A13
Document Type:
Letter requesting payment of amount for organizational study
Submitted By:
Plaintiff
Relevance:
This letter is a request for payment associated with the organizational study.
Reference:
Ext.A15
Document Type:
Letter received for payment of book costs
Submitted By:
Plaintiff
Relevance:
This letter requests payment for books purchased using the loan.
Reference:
Ext.A16
Document Type:
Request letter for III Semester fee
Submitted By:
Plaintiff
Relevance:
This document requests payment for the third semester fees.
Reference:
Ext.A17
Document Type:
Request letter for payment of 4th Semester fee
Submitted By:
Plaintiff
Relevance:
This letter requests payment for the fourth semester fees.
Reference:
Ext.A21
Document Type:
Request letter for project work payment
Submitted By:
Plaintiff
Relevance:
This letter requests payment toward project work.
Reference:
Ext.A25
Document Type:
Minutes of the recovery camp
Submitted By:
Plaintiff
Relevance:
These minutes show agreements made during the recovery camp.
Reference:
Ext.A27
Document Type:
Power of Attorney
Submitted By:
Plaintiff
Relevance:
This document relates to the authority granted to the bank's branch manager.
Reference:
Ext.A28
Document Type:
Oral Evidence
Submitted By:
Unknown
Relevance:
The evidence includes the oral testimony of PW1.
Reference:
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 The Federal Bank Limited vs Sri. Arun Antony et al regarding realization of money
Case Code Year
Case between The Federal Bank Limited vs Sri. Arun Antony et al regarding realization of money