Case Summary
Punjab National Bank filed a suit against M/s Vijaya Fashions Private Limited and its directors for the realization of a loan amount. The bank claimed that the defendants failed to repay the loan, leading to the suit.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.5,76,918 along with interest.
Case Type
Civil Suit
Final Judgment
No
The court decreed that the defendants shall pay Rs.5,76,918 along with interest to the plaintiff. The plaintiff is also entitled to realize the costs of the suit.
Why Plaintiff Won:
Plaintiff established a case for recovery of the loan amount based on unchallenged evidence.
Plaintiff established a case for recovery of the loan amount based on unchallenged evidence.
Losing Side's Weaknesses:
Plaintiff established a case for recovery of the loan amount based on unchallenged evidence.
Plaintiff established a case for recovery of the loan amount based on unchallenged evidence.
Supporting Evidence
On perusal of the plaint, proof affidavit and documents produced, I am of the view that plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.5,76,918 with interest from defendant.
Judgment Evidence:
In the result, suit is decreed as follows: 1) Defendants shall pay Rs.5,76,918 along with interest @12.10% per annum from the date of suit till the date of decree and @6% from the date of decree till the date of payment or realization, as the case may be, to plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Punjab National Bank
- Relation
- represented by
- Party Role
- Defendant
- Party Name
- M/s Vijaya Fashions Private Limited
- Party Role
- Defendant
- Party Name
- M/s. Justine Peter
- Party Age
- 33
- Relation
- D/o
- Party Role
- Defendant
- Party Name
- M/s. Vijaya.H.S.
- Party Age
- 63
- Relation
- W/o
Plaintiffs Documents
Various documents including the loan agreement and notice of demand.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- M.P. Vijayan
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff sought recovery of Rs.5,76,918 with interest.
Evidence:
Defendants shall pay Rs.5,76,918 along with interest @12.10% per annum from the date of suit till the date of decree.
Relief Type:
Cost Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to realize the costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Certificate of Recognition
Submitted By:
Plaintiff
Relevance:
Part of the evidence presented to establish the plaintiff's case.
Reference:
Ext.A1
Document Type:
Application for Loan
Submitted By:
Plaintiff
Relevance:
Details the loan availed by the defendant from the plaintiff.
Reference:
Ext.A2
Document Type:
Common agreement
Submitted By:
Plaintiff
Relevance:
Demonstrates the agreement terms between the plaintiff and the first defendant regarding the loan.
Reference:
Ext.A3
Document Type:
Agreement of Hypothecation of Assets
Submitted By:
Plaintiff
Relevance:
Provides security for the loan extended by the plaintiff.
Reference:
Ext.A4
Document Type:
Agreement of Guarantee
Submitted By:
Plaintiff
Relevance:
Executed by the first defendant to secure the loan.
Reference:
Ext.A5
Document Type:
Agreement of Guarantee
Submitted By:
Plaintiff
Relevance:
Executed by the second defendant to secure the loan.
Reference:
Ext.A6
Document Type:
Letter of balance and security confirmation
Submitted By:
Plaintiff
Relevance:
Confirms the security arrangement for the loan.
Reference:
Ext.A7
Document Type:
Registered Notice
Submitted By:
Plaintiff
Relevance:
Notifies the defendant regarding the loan details.
Reference:
Ext.A8
Document Type:
Registered Notice
Submitted By:
Plaintiff
Relevance:
Returned unclaimed notice indicating non-response from the defendant.
Reference:
Ext.A9
Document Type:
Registered Notice
Submitted By:
Plaintiff
Relevance:
Returned unclaimed notice for the second defendant.
Reference:
Ext.A10
Document Type:
Registered Notice
Submitted By:
Plaintiff
Relevance:
Returned unclaimed notice for the third defendant.
Reference:
Ext.A11
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Details the financial transactions relevant to the loan account.
Reference:
Ext.A12
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 Punjab National Bank vs M/s Vijaya Fashions Private Limited et al regarding realization of money.
Case Code Year
Case between Punjab National Bank vs M/s Vijaya Fashions Private Limited et al regarding realization of money.