Case Summary
Ace Finlease Pvt.Ltd. filed a suit against Harshad.M.H and Ayishabi for the recovery of a loan amount. The defendants defaulted on their repayments as per the loan agreement.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants are directed to pay an amount of Rs.2,12,400/- with interest and costs.
Case Type
Civil Suit
Final Judgment
No
The court decreed that the defendants must pay a total of Rs.2,12,400/- to the plaintiff along with applicable interest. The plaintiff is also entitled to recover costs of the suit from the defendants.
Why Plaintiff Won:
The plaintiff proved their case through evidence and the defendants did not contest.
The plaintiff proved their case through evidence and the defendants did not contest.
Losing Side's Weaknesses:
The plaintiff proved their case through evidence and the defendants did not contest.
The plaintiff proved their case through evidence and the defendants did not contest.
Supporting Evidence
I find that the plaintiff had proved his case and is entitled to a decree as prayed for.
Judgment Evidence:
In the result, suit is decreed as follows: The defendants are directed to pay an amount of Rs.2,12,400/- (Rupees two lakhs twelve thousand four hundred only) with interest at 12% per annum from the date of suit till the date of decree and with interest @ 6% per annum from the date of decree till its realization to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Ace Finlease Pvt.Ltd.
- Party Role
- Plaintiff
- Party Name
- M.K Rajesh
- Party Age
- 45
- Relation
- S/o.Velayudhan
- Party Role
- Defendant
- Party Name
- Harshad.M.H
- Party Age
- 28
- Relation
- S/o.Safaudheen
- Party Role
- Defendant
- Party Name
- Ayishabi
- Party Age
- 50
- Relation
- D/o.Koyassan Koya
Plaintiffs Documents
Certified copy of Power of Attorney, Loan agreement, Promissory Note, Encumbrance Certificate, Computerized ledger account.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri.Preman.C.K
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Advocate Mujeeb Rahman.K
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Advocate.N.Manoj
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants are directed to pay an amount of Rs.2,12,400/- with interest to the plaintiff.
Evidence:
In the result, suit is decreed as follows: 1) The defendants are directed to pay an amount of Rs.2,12,400/- (Rupees two lakhs twelve thousand four hundred only) with interest at 12% per annum from the date of suit till the date of decree.
Relief Type:
Cost
Outcome:
Granted
Description:
Plaintiff is entitled to recover costs of the suit from the defendants.
Evidence:
2) The plaintiff is also entitled to recover costs of the suit from the defendants.
Documents & Evidence
Document Type:
Power of Attorney
Submitted By:
Plaintiff
Relevance:
Certified copy of Power of Attorney demonstrating authority to act on behalf of the plaintiff.
Reference:
Ext.A1
Document Type:
Loan Agreement
Submitted By:
Plaintiff
Relevance:
Loan agreement outlining the terms of the loan borrowed by Defendant No.1.
Reference:
Ext.A2
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
Promissory note executed by the defendants promising to pay a specified amount.
Reference:
Ext.A3
Document Type:
Encumbrance certificate
Submitted By:
Plaintiff
Relevance:
Document certifying the encumbrances on the property related to the loan.
Reference:
Ext.A4
Document Type:
Computerized Ledger Account
Submitted By:
Plaintiff
Relevance:
Ledger account demonstrating the payments made and outstanding amounts.
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
Non-payment of rent
Case Code
Case between Ace Finlease Pvt.Ltd. vs Harshad.M.H et al regarding realisation of money.
Case Code Year
Case between Ace Finlease Pvt.Ltd. vs Harshad.M.H et al regarding realisation of money.