Case Summary
The plaintiff, Indian Overseas Bank, is seeking to recover an outstanding amount from the defendants, M/s. Oasis Life Solutions and Sinimol K P, who defaulted on multiple loans. A default notice was issued but went unserved, leading to the suit.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Plaintiff is entitled to realize Rs. 8,67,769.90/- along with interest and costs of the suit from the defendants and their assets.
Case Type
Civil Suit
Final Judgment
No
The court decreed in favor of the plaintiff, allowing them to recover the outstanding loan amount and interest from the defendants. The defendants failed to appear in court, resulting in an exparte decree.
Why Plaintiff Won:
The unrebutted oral testimony of the plaintiff's witness established the case as pleaded by the plaintiff, with no countervailing evidence from the defendants.
The unrebutted oral testimony of the plaintiff's witness established the case as pleaded by the plaintiff, with no countervailing evidence from the defendants.
Losing Side's Weaknesses:
The unrebutted oral testimony of the plaintiff's witness established the case as pleaded by the plaintiff, with no countervailing evidence from the defendants.
The unrebutted oral testimony of the plaintiff's witness established the case as pleaded by the plaintiff, with no countervailing evidence from the defendants.
Supporting Evidence
The unrebutted oral testimony of PW1 established his case as pleaded by him. In the absence of any countervailing evidence to contradict this proof of plaint claim, I learn that same remains uncontroverted and accordingly admitted and the plaintiff is entitled to the relief as prayed for.
Judgment Evidence:
In the result, suit is decreed as follows: 1. Plaintiff is entitled to realize Rs. 8,67,769.90/-... 4.Plaintiffs are entitled to realize costs of the suit from defendants and from their assets.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Indian Overseas Bank
- Relation
- Represented by its Chief Manager as an Authorised Officer, Jithin Mathew
- Party Role
- Defendant
- Party Name
- M/s. Oasis Life Solutions
- Relation
- Represented by its Proprietrix Sinimol K P
- Party Role
- Defendant
- Party Name
- Sinimol K P
- Party Age
- 44
- Relation
- W/o Jagdeep Murali
Plaintiffs Documents
Original Credit sanction advice, Original letter of hypothecation, Original Demand promissory note, Original credit sanction advice, Original term loan agreement and hypothecation agreement, Original revised demand promissory note, Original credit sanction advice dated 29.06.2021, Original credit sanction advice dated 18.03.2022, Original of letter of hypothecation, Original revised demand promissory note, Office copy of Lawyer’s recall notice, Returned post covers along with postal receipts, Printout of the statement of accounts along with certification under the Bankers Book Evidence Act.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Jaykar K.S.
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Ramya Jayakar
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Padmapriya
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Suresh Kumar G.
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Saral Cheriyan
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to realize Rs. 8,67,769.90 from the defendants.
Evidence:
In the result, suit is decreed as follows: 1. Plaintiff is entitled to realize Rs. 8,67,769.90/-.
Relief Type:
Interest
Outcome:
Granted
Description:
Plaintiff is entitled to realize interest @ 10% per annum from the date of suit.
Evidence:
2. Plaintiff is entitled to realize interest @ 10% per annum for Rs. 8,67,769.90/-.
Relief Type:
Interest
Outcome:
Granted
Description:
Plaintiff is entitled to realize interest @ 6% per annum from the date of decree.
Evidence:
3. Plaintiffs are entitled to realize interest @ 6% per annum for Rs. 8,67,769.90/-.
Relief Type:
Cost
Outcome:
Granted
Description:
Plaintiffs are entitled to realize costs of the suit.
Evidence:
4. Plaintiffs are entitled to realize costs of the suit from defendants.
Documents & Evidence
Document Type:
Credit Sanction Advice
Submitted By:
Plaintiff
Relevance:
Original credit sanction advice dated 25.01.2019.
Reference:
Ext.A1
Document Type:
Letter of Hypothecation
Submitted By:
Plaintiff
Relevance:
Original letter of hypothecation dated 25.01.2019.
Reference:
Ext.A2
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Original demand promissory note dated 25.01.2019.
Reference:
Ext.A3
Document Type:
Credit Sanction Advice
Submitted By:
Plaintiff
Relevance:
Original credit sanction advice dated 06.08.2020.
Reference:
Ext.A4
Document Type:
Term Loan Agreement and Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Original term loan agreement and hypothecation agreement dated 06.08.2020.
Reference:
Ext.A5
Document Type:
Revised Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Original revised demand promissory note dated 06.08.2020.
Reference:
Ext.A6
Document Type:
Credit Sanction Advice
Submitted By:
Plaintiff
Relevance:
Original credit sanction advice dated 29.06.2021.
Reference:
Ext.A7
Document Type:
Credit Sanction Advice
Submitted By:
Plaintiff
Relevance:
Original credit sanction advice dated 18.03.2022.
Reference:
Ext.A8
Document Type:
Letter of Hypothecation
Submitted By:
Plaintiff
Relevance:
Original letter of hypothecation dated 18.03.2022.
Reference:
Ext.A9
Document Type:
Revised Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Original revised demand promissory note dated 18.03.2022.
Reference:
Ext.A10
Document Type:
Revised Letters
Submitted By:
Plaintiff
Relevance:
Original revised letters dated 15.01.2022 and 19.07.2023.
Reference:
Ext.A11
Document Type:
Loan recall notice
Submitted By:
Plaintiff
Relevance:
Office copy of lawyer’s loan recall notice dated 20.09.2023.
Reference:
Ext.A12
Document Type:
Postal Covers and Receipts
Submitted By:
Plaintiff
Relevance:
Returned post covers along with postal receipts.
Reference:
Ext.A13
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Printout of the statement of accounts along with certification under the Bankers Book Evidence Act.
Reference:
Ext.A14
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 Indian Overseas Bank vs M/s. Oasis Life Solutions et al regarding Suit For Realization Of Money.
Case Code Year
Case between Indian Overseas Bank vs M/s. Oasis Life Solutions et al regarding Suit For Realization Of Money.