Case Summary
Ace Finlease Pvt. Limited is the plaintiff seeking recovery of money from defendants Salim.K.P and Savad.K.P for a loan agreement. The defendants defaulted on repayment despite being served with summons.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Rs.52,150/- together with interest at the rate of 12% per annum from the date of suit till the date of realization
Case Type
Original Suit
Final Judgment
No
The suit is decreed in favor of the plaintiff for the amount due along with interest. The defendants are liable to pay the amount as per the court's order.
Why Plaintiff Won:
Losing Side's Weaknesses:
Supporting Evidence
The unchallenged proof affidavit and Exts.A1 to A5 fully establishes the case of plaintiff.
Judgment Evidence:
In the result, the suit is decreed with costs of plaintiff as follows: Plaintiff is allowed to recover from defendants, Rs.52,150/- together with interest at the rate of 12% per annum on the said amount from the date of suit till the date of realisation from the defendants jointly and severally.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Ace Finlease Pvt. Limited
- Relation
- represented by
- Party Role
- Defendant
- Party Name
- Salim.K.P
- Party Age
- 41
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Savad. K.P
- Relation
- S/o
Plaintiffs Documents
Certified copy of Power of attorney, Loan agreement, Promissory note, Copy of Encumbrance certificate, Statement of account
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Smt. Sheela.T
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- C.K. Preman
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is allowed to recover Rs.52,150/- from defendants together with interest.
Evidence:
Plaintiff is allowed to recover from defendants, Rs.52,150/- together with interest at the rate of 12% per annum on the said amount from the date of suit till the date of realisation from the defendants jointly and severally.
Documents & Evidence
Document Type:
Power of Attorney
Submitted By:
Plaintiff
Relevance:
Certified copy of power of attorney used to represent the plaintiff.
Reference:
Ext.A1
Document Type:
Loan Agreement
Submitted By:
Plaintiff
Relevance:
Loan agreement between the plaintiff and defendants detailing the borrowed amount and repayment terms.
Reference:
Ext.A2
Document Type:
Promissory Note
Submitted By:
Defendant
Relevance:
Promissory note executed by defendants promising to repay the loan with interest.
Reference:
Ext.A3
Document Type:
Encumbrance certificate
Submitted By:
Plaintiff
Relevance:
Document showing any encumbrances on the property related to the loan.
Reference:
Ext.A4
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Certified extract of ledger account of plaintiff relating to the transaction with defendants.
Reference:
Ext.A5
Case Classification
Case Type
Original Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Munsiff Court 2 Kozhikode
Common Reasons
Recovery of money
Case Code
Case between Ace Finlease Pvt. Limited vs Salim.K.P et al regarding recovery of money
Case Code Year
Case between Ace Finlease Pvt. Limited vs Salim.K.P et al regarding recovery of money