Case Summary
Ace Finlease Pvt Ltd, a private banking company, filed a suit against Muhammed Navas for the recovery of a loan amount of Rs.1,24,480/- with interest. The defendant No 1 defaulted in repayment, leading to the suit.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Plaintiff shall be entitled to realize Rs.1,24,480/- with interest at the rate 9 per cent from date of suit till date of decree and with future interest at the rate of 6 per cent from the date of decree till date of realization.
Case Type
Civil Suit
Final Judgment
No
The court decreed that the plaintiff is entitled to recover Rs.1,24,480/- from defendant No 1 with interest. The defendant No 1 is also ordered to pay the costs of the proceedings.
Why Plaintiff Won:
The suit was decreed based on the unchallenged testimony of the plaintiff and the evidence provided.
The suit was decreed based on the unchallenged testimony of the plaintiff and the evidence provided.
Losing Side's Weaknesses:
The suit was decreed based on the unchallenged testimony of the plaintiff and the evidence provided.
The suit was decreed based on the unchallenged testimony of the plaintiff and the evidence provided.
Supporting Evidence
The plaintiff when examined as PW1 has deposed in tune with the plaint averments. He has produced exhibit A1 to A5 documents in evidence is proved by the unchallenged testimony of the PW1 and the documents tendered in evidence.
Judgment Evidence:
In the result, Plaintiff shall be entitled to realize Rs.1,24,480/- (Rupees One lakh twenty four thousand four hundred and eighty) from the defendant No 1 with interest at the rate 9 per cent from date of suit till date of decree and with future interest at the rate of 6 per cent from the date of decree till date of realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Ace Finlease Pvt Ltd
- Party Role
- Defendant
- Party Name
- Muhammed Navas
- Party Age
- 34
- Relation
- S/o
Plaintiffs Documents
Certified copy of Power of Attorney, Loan agreement entered between the plaintiff and defendants, Promissory Note, Certificate of Encumbrance on property issued from Registration department, Certified extract of the computerized ledger account from the period 08.07.2022 to 21.01.2023
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Smt. Sheela T
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Sri. C K Preman
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff entitled to realize Rs.1,24,480/- from the defendant No 1.
Evidence:
In the result, Plaintiff shall be entitled to realize Rs.1,24,480/- (Rupees One lakh twenty four thousand four hundred and eighty) from the defendant No 1 with interest at the rate 9 per cent from date of suit till date of decree and with future interest at the rate of 6 per cent from the date of decree till date of realization.
Relief Type:
Costs
Outcome:
Granted
Description:
Defendant No 1 shall pay costs of the proceedings to the plaintiff.
Evidence:
The defendant No 1 shall pay costs of the proceedings to the plaintiff.
Documents & Evidence
Document Type:
Certified Copy of Power of Attorney
Submitted By:
Plaintiff
Relevance:
Proved the authority of the plaintiff's Power of Attorney holder.
Reference:
Ext.A1
Document Type:
Loan Agreement
Submitted By:
Plaintiff
Relevance:
Evidence of the loan borrowed by the defendant.
Reference:
Ext.A2
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
Documented the defendant's obligation to repay the loan.
Reference:
Ext.A3
Document Type:
Certificate of Encumbrance
Submitted By:
Plaintiff
Relevance:
Provided evidence regarding the property status related to the loan.
Reference:
Ext.A4
Document Type:
Certified extract of the computerized ledger account
Submitted By:
Plaintiff
Relevance:
Showed the details of the loan transactions and outstanding amount.
Reference:
Ext.A5
Case Classification
Case Type
Civil 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 Ltd vs Muhammed Navas regarding realization of money
Case Code Year
Case between Ace Finlease Pvt Ltd vs Muhammed Navas regarding realization of money