Case Summary
This case involves the Bank of Baroda seeking to recover a loan amount from M/s. Jewel Power Tools and its proprietor Shaji J.K. The defendants failed to repay the loan despite being notified.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay an amount of Rs. 2,43,250/- with interest at the rate of 6% per annum.
Case Type
Civil Suit
Final Judgment
No
The court ruled in favor of the plaintiff, ordering the defendants to pay the outstanding loan amount with interest. The defendants were found liable for failing to repay the loan.
Why Plaintiff Won:
The plaintiff provided unchallenged evidence supporting their claim for the loan recovery.
The plaintiff provided unchallenged evidence supporting their claim for the loan recovery.
Losing Side's Weaknesses:
The plaintiff provided unchallenged evidence supporting their claim for the loan recovery.
The plaintiff provided unchallenged evidence supporting their claim for the loan recovery.
Supporting Evidence
Plaintiff's unchallenged evidence prove its case and it is entitled to a decree to realise the amount from the defendants.
Judgment Evidence:
In the result, the suit is decreed with costs and defendants shall pay an amount of Rs. 2,43,250/- to the plaintiff jointly and severally with interest at the rate of 6% per annum.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Bank of Baroda
- Party Role
- Defendant
- Party Name
- M/s. Jewel Power Tools
- Party Role
- Defendant
- Party Name
- Shaji J.K
- Party Age
- 43
- Relation
- S/o
Plaintiffs Documents
Loan application, Sanction letter, DPN, letter of Sole Proprietorship, letter of Installment with Acceleration clause, Composite Hypothecation Agreement, Declaration cum undertaking.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Adv.Smt.Nazia Sharaf
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff sought recovery of outstanding loan amount.
Evidence:
Thus, the suit is decreed with costs and defendants shall pay an amount of Rs. 2,43,250/- to the plaintiff jointly and severally with interest at the rate of 6% per annum.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Original loan application submitted by the defendants for the loan.
Reference:
Ext.A1
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Sanction letter acknowledging the loan granted to the defendants.
Reference:
Ext.A2
Document Type:
DPN
Submitted By:
Plaintiff
Relevance:
Original of Demand Promissory Note executed by the defendants.
Reference:
Ext.A3
Document Type:
Letter of Sole Proprietorship
Submitted By:
Plaintiff
Relevance:
Documentation establishing the defendants' sole proprietorship.
Reference:
Ext.A4
Document Type:
Letter of installment with acceleration clause
Submitted By:
Plaintiff
Relevance:
Agreement detailing the repayment schedule and conditions.
Reference:
Ext.A5
Document Type:
Composite Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Agreement securing the loan against collateral.
Reference:
Ext.A6
Document Type:
Declaration Cum Undertaking Cum Authority
Submitted By:
Plaintiff
Relevance:
Legal document affirming the terms of the loan and the authority given to the bank.
Reference:
Ext.A7
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Financial statement showing the outstanding loan amount.
Reference:
Ext.A8
Document Type:
Legal Notice
Submitted By:
Plaintiff
Relevance:
Office copy of the legal notice sent to the defendants for repayment.
Reference:
Ext.A9
Document Type:
Postal Receipts
Submitted By:
Plaintiff
Relevance:
Original postal receipts confirming sending of legal notices.
Reference:
Ext.A10
Document Type:
Returned Legal Notices
Submitted By:
Plaintiff
Relevance:
Documents indicating the returned status of the legal notices sent.
Reference:
Ext.A11
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Thiruvananthapuram
State
Kerala
Court Establishment
Munsiff Court Thiruvananthapuram
Common Reasons
Non-payment of Loan
Case Code
OS.NO.
Case Code Year
2023