Case Summary
The plaintiff, Bank of India, seeks to recover a loan amount from the defendants who failed to make repayments. The loan was taken for education purposes by the first defendant, with the second defendant as the guarantor.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff shall be entitled to realize Rs.5,32,545.40 from the defendants with interest.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, allowing them to recover the loan amount with interest.
Why Plaintiff Won:
The court found the plaintiff's evidence and witness testimony to be sufficient and unchallenged.
The court found the plaintiff's evidence and witness testimony to be sufficient and unchallenged.
Losing Side's Weaknesses:
The court found the plaintiff's evidence and witness testimony to be sufficient and unchallenged.
The court found the plaintiff's evidence and witness testimony to be sufficient and unchallenged.
Supporting Evidence
The PW1 has categorically deposed regarding the transaction between the plaintiff bank and the defendant. The case of the plaintiff is proved by the unchallenged testimony of the PW1 and the documents produced by her.
Judgment Evidence:
The suit is decreed as follows: The plaintiff shall be entitled to realize Rs.5,32,545.40 (Rupees five lakhs thirty two thousand five hundred and forty five rupees and forty paise ) from the defendants with interest at the rate of 11.05 percent 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
- Bank of India
- Relation
- represented by its Principal Officer and Manager Vipin. K
- Party Role
- Defendant
- Party Name
- Saranya. M
- Party Age
- 27
- Relation
- D/o
- Party Role
- Defendant
- Party Name
- Sasidharan. P
- Party Age
- 60
- Relation
- S/o
Plaintiffs Documents
Loan application for education, Education loan agreement, Demand promissory note, Acknowledgment of debt, Copies of lawyer notice
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. M. Saleem
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Adv. E. Vinitha
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff is entitled to recover the loan amount along with interest from the defendants.
Evidence:
The suit is decreed as follows: The plaintiff shall be entitled to realize Rs.5,32,545.40 from the defendants with interest at the rate of 11.05 percent.
Relief Type:
Costs
Outcome:
Granted
Description:
The defendants shall pay the costs of the proceedings to the plaintiff.
Evidence:
The defendants shall pay costs of the proceedings to the plaintiff.
Documents & Evidence
Document Type:
Loan application for education
Submitted By:
Plaintiff
Relevance:
This document was presented as part of the plaintiff's evidence regarding the education loan taken by the defendants.
Reference:
Ext.A1
Document Type:
Education Loan Agreement
Submitted By:
Plaintiff
Relevance:
This document is crucial in demonstrating the terms agreed upon by the parties regarding the loan.
Reference:
Ext.A2
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
This document serves as evidence of the defendants' promise to repay the loan.
Reference:
Ext.A3
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
This document shows the defendants confirming their debt obligation on a specific date.
Reference:
Ext.A4
Document Type:
Acknowledgment of debt by undertaking the liability
Submitted By:
Plaintiff
Relevance:
This document evidences the defendants' acknowledgment of their ongoing debt obligation.
Reference:
Ext.A5
Document Type:
Acknowledgment of debt by undertaking the liability
Submitted By:
Plaintiff
Relevance:
This document reinforces the defendants' acknowledgment of their liability regarding the loan.
Reference:
Ext.A6
Document Type:
Copy of Lawyer Notice
Submitted By:
Plaintiff
Relevance:
This document shows the formal demand made by the plaintiff for repayment.
Reference:
Ext.A7
Document Type:
Postal Receipts
Submitted By:
Plaintiff
Relevance:
This document provides proof of sending the demand notice.
Reference:
Ext.A7(a)
Document Type:
Postal Acknowledgment Card
Submitted By:
Plaintiff
Relevance:
This document is evidence of the acknowledgment of receipt of the demand notice.
Reference:
Ext.A8
Document Type:
Statement of account during the period of 29.10.2014 to 30.04.2023
Submitted By:
Plaintiff
Relevance:
This document details the financial transactions relating to the loan account.
Reference:
Ext.A9
Document Type:
Statement of unchanged interest calculation during the period from 01.05.2023 to 31.12.2023
Submitted By:
Plaintiff
Relevance:
This document evidences the interest calculation related to the loan.
Reference:
Ext.A10
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 Bank of India vs Saranya. M et al regarding recovery of money
Case Code Year
Case between Bank of India vs Saranya. M et al regarding recovery of money