Case Summary
Ace FinLease Pvt.Ltd is the plaintiff seeking repayment of a loan from Abdul Asees.K.V and Santosh.P, the defendants. The loan was taken by the first defendant and the second defendant acted as a guarantor.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants ordered to pay Rs.99,300 with interest and costs.
Case Type
Original Suit
Final Judgment
No
The court directed the defendants to pay a total of Rs.99,300 to the plaintiff along with interest and costs of the suit. The claim for higher interest was reduced.
Why Plaintiff Won:
The claim of borrowal and default of payment was proved by the plaintiff's affidavit and documents.
The claim of borrowal and default of payment was proved by the plaintiff's affidavit and documents.
Losing Side's Weaknesses:
The claim of borrowal and default of payment was proved by the plaintiff's affidavit and documents.
The claim of borrowal and default of payment was proved by the plaintiff's affidavit and documents.
Supporting Evidence
The plaint claim of borrowal and default of payment stands proved by the affidavit of PW1 and Exhibits A2 to A5 documents which remains unchallenged.
Judgment Evidence:
In the result, suit is decreed as follows: a) The defendants are directed to pay jointly and severally Rs.99,300 (Rupees Ninety Nine Thousand And Three Hundred Only) to the plaintiff with interest at the rate of 7% per annum from the date of the suit till the date of decree and thereafter with interest at the rate of 6% per annum till realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Ace FinLease Pvt.Ltd
- Party Role
- Defendant
- Party Name
- Abdul Asees.K.V
- Party Age
- 63
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Santosh.P
- Party Age
- 48
- Relation
- S/o
Plaintiffs Documents
Copy of Power of attorney, Personal Loan agreement, Promissory note, 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
- Sri. C K Preman
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendants are directed to pay Rs.99,300 to the plaintiff.
Evidence:
The defendants are directed to pay jointly and severally Rs.99,300 (Rupees Ninety Nine Thousand And Three Hundred Only) to the plaintiff with interest at the rate of 7% per annum from the date of the suit till the date of decree and thereafter with interest at the rate of 6% per annum till realization.
Relief Type:
Other
Outcome:
Granted
Description:
The defendants are also directed to pay costs of the suit.
Evidence:
The plaintiff is entitled to get the costs of the suit.
Documents & Evidence
Document Type:
Power of Attorney
Submitted By:
Plaintiff
Relevance:
This document establishes the authority of the plaintiff's representative in the case.
Reference:
Ext.A1
Document Type:
Personal Loan Agreement
Submitted By:
Plaintiff
Relevance:
This document details the terms of the loan availed by Defendant No.1.
Reference:
Ext.A2
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
This document evidences the defendants' commitment to repay the loan amount.
Reference:
Ext.A3
Document Type:
Encumbrance certificate
Submitted By:
Plaintiff
Relevance:
This document verifies the status of any encumbrances on the property related to the loan.
Reference:
Ext.A4
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
This document reflects the outstanding payment details and transactions related to the loan.
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
Non-payment of rent
Case Code
Case between Ace FinLease Pvt.Ltd vs Abdul Asees.K.V et al regarding realization of money
Case Code Year
Case between Ace FinLease Pvt.Ltd vs Abdul Asees.K.V et al regarding realization of money