Case Summary
The plaintiff, Indian Overseas Bank, filed a suit against the defendants, M/s. Oasis Life Solutions and Sinimol K P, for defaulting on repayment of loans. The bank seeks to recover the owed amount along with interest.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Plaintiff is entitled to realize Rs. 8,67,769.90 along with interest.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, allowing them to realize the loan amount along with applicable interest from the defendants.
Why Plaintiff Won:
The plaintiff established the case through unrebutted testimony and evidence demonstrating the loan agreements and defaults.
The plaintiff established the case through unrebutted testimony and evidence demonstrating the loan agreements and defaults.
Losing Side's Weaknesses:
The plaintiff established the case through unrebutted testimony and evidence demonstrating the loan agreements and defaults.
The plaintiff established the case through unrebutted testimony and evidence demonstrating the loan agreements and defaults.
Supporting Evidence
The unrebutted oral testimony of PW1 established his case as pleaded by him. ... the plaintiff is entitled to the relief as prayed for.
Judgment Evidence:
In the result, suit is decreed as follows. Plaintiff is entitled to realize Rs. 8,67,769.90 from the defendants and from their assets.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Indian Overseas Bank
- Relation
- Represented by
- Party Role
- Plaintiff
- Party Name
- Jithin Mathew
- Party Age
- 36
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- M/s. Oasis Life Solutions
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Sinimol K P
- Party Age
- 44
- Relation
- W/o
Plaintiffs Documents
Credit sanction advice, Letter of Hypothecation, Demand Promissory Note, Agreement of Term Loan, Loan Recall Notice.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Jaykar K. S.
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Ramya Jaykar
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Padma priya
- 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:
Plaintiff is entitled to realize Rs. 8,67,769.90/ (Rupees Eight lakhs sixty seven thousand seven hundred and sixty nine and nine zero paise) from the defendants and from their assets.
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to realize interest at 10% per annum on Rs. 8,67,769.90.
Evidence:
Plaintiff is entitled to realize interest @ 10% per annum for Rs. 8,67,769.90/ (Rupees Eight lakhs sixty seven thousand seven hundred and sixty nine and nine zero paise) from the date of suit till date decree from the defendants and from their assets.
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to realize interest at 6% per annum on Rs. 8,67,769.90.
Evidence:
Plaintiffs are entitled to realize interest @ 6% per annum for Rs. 8,67,769.90/ (Rupees Eight lakhs sixty seven thousand seven hundred and sixty nine and nine zero paise) from date of decree till date of realization from the defendants and from their assets.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff is entitled to realize costs of the suit.
Evidence:
Plaintiffs are entitled to realize costs of the suit from defendants and from their assets.
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:
Agreement of Term Loan and Hypothecation
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:
Revival Letters
Submitted By:
Plaintiff
Relevance:
Original revised letters dated 15.01.2022 and 19.07.2023.
Reference:
Ext.A11
Document Type:
Office copy of Loan recall notice
Submitted By:
Plaintiff
Relevance:
Office copy of lawyer's loan recall notice dated 20.09.2023.
Reference:
Ext.A12
Document Type:
Returned Postal Covers
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
Document Type:
Oral Evidence
Submitted By:
Unknown
Relevance:
The oral testimony of PW1 established the case as pleaded.
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 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.