Case Summary
This suit involves Ace Finlease Pvt.Ltd. seeking payment from defendants Sakariya.M and Raseena.P.K for a loan agreement. The defendants defaulted on the repayment terms set in the personal loan agreement.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants are directed to pay Rs.2,68,900/- with interest and costs.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, ordering the defendants to pay an amount of Rs.2,68,900/- along with interest. The court also granted the plaintiff the right to recover costs of the suit.
Why Plaintiff Won:
The plaintiff proved its case with unchallenged evidence.
The plaintiff proved its case with unchallenged evidence.
Losing Side's Weaknesses:
The plaintiff proved its case with unchallenged evidence.
The plaintiff proved its case with unchallenged evidence.
Supporting Evidence
The evidence of PW1 and the documents produced by him remains unchallenged. As such, 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: 1) The defendants are directed to pay an amount of Rs.2,68,900/- (Rupees two lakhs sixty eight thousand nine hundred only) with future interest at 12% per annum from the date of suit till the date of decree and with interest at 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
- Party Role
- Defendant
- Party Name
- Sakariya.M
- Party Age
- 47
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Raseena.P.K
- Party Age
- 42
- Relation
- W/o
Plaintiffs Documents
Certified copy of Power of Attorney, Loan agreement, Promissory note, Encumbrance certificate, Customer ledger report
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Smt.Sheela.T
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- C.K.Preman
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants are directed to pay the amount due with interest.
Evidence:
The defendants are directed to pay an amount of Rs.2,68,900/- (Rupees two lakhs sixty eight thousand nine hundred only) with future interest at 12% per annum from the date of suit till the date of decree.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff entitled to realize costs of the suit from the defendants.
Evidence:
The plaintiff is also entitled to realize costs of the suit from the defendants.
Documents & Evidence
Document Type:
Power of Attorney
Submitted By:
Plaintiff
Relevance:
Certified copy of the Power of Attorney presented to substantiate the plaintiff's authority.
Reference:
Ext.A1
Document Type:
Loan Agreement
Submitted By:
Plaintiff
Relevance:
Loan agreement entered between the plaintiff and the defendant detailing the terms of the loan.
Reference:
Ext.A2
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
Promissory note executed by the defendant promising to repay the loan amount.
Reference:
Ext.A3
Document Type:
Encumbrance certificate
Submitted By:
Plaintiff
Relevance:
Encumbrance certificate provided to substantiate the legal standing of the property.
Reference:
Ext.A4
Document Type:
Customer Ledger Report
Submitted By:
Plaintiff
Relevance:
Customer ledger report presenting the payment history confirming the default.
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 Sakariya.M et al regarding realisation of money
Case Code Year
Case between Ace Finlease Pvt.Ltd. vs Sakariya.M et al regarding realisation of money