Case Summary
The case involves Indian Bank as the plaintiff seeking repayment of a loan by the defendants, who are partners in a firm. The defendants have failed to repay the loan amount despite acknowledging their liability.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants are directed to pay an amount of Rs.4,50,787/- with future interest and costs of the suit.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, ordering the defendants to repay the loan amount with interest.
Why Plaintiff Won:
The plaintiff proved the case and the evidence remained unchallenged.
The plaintiff proved the case and the evidence remained unchallenged.
Losing Side's Weaknesses:
Not available
Not available
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.4,50,787/- (Rupees four lakhs fifty thousand seven hundred and eighty seven only) with future 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
- Indian Bank, Kallai Road Branch, Trade Links Complex Mini Bye Pass Junction, Mankave, Kozhikode – 673007
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- M/s. A J Advisory Services, Third Floor, Trade Links Complex, Mini Bye Pass Junction, Mankavu, Kozhikode – 673007
- Party Age
- 35
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Mr. Jasleed. P. N
- Party Age
- 35
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Mr. Muhammed Anees
- Party Age
- 32
- Relation
- S/o
Plaintiffs Documents
Loan application form for MSEs, Joint and Several Demand Promissory Note, Medium Term Loan Agreement, Agreement of hypothecation of movables, Agreement of guarantee, Disposal of proceeds letter, Declaration by the borrower on details of relatives, Acknowledgment of Debt cum Security, Payment slip, Statement of account No.6555409031 during the period from 16.08.2017 to 03.12.2023
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. K. Madhu Mohan
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Smt. Suma. P. T
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendants are directed to pay an amount of Rs.4,50,787/- with interest.
Evidence:
The defendants are directed to pay an amount of Rs.4,50,787/- (Rupees four lakhs fifty thousand seven hundred and eighty seven only) with future interest at 12% per annum from the date of suit till the date of decree.
Relief Type:
Other
Outcome:
Granted
Description:
The plaintiff is 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:
Loan application form for MSEs
Submitted By:
Plaintiff
Relevance:
The document is part of the evidence to prove the loan application made by the defendants.
Reference:
Ext.A1
Document Type:
Joint and several demand promissory note
Submitted By:
Plaintiff
Relevance:
This document evidences the agreement to repay the loan.
Reference:
Ext.A2
Document Type:
Medium Term Loan Agreement
Submitted By:
Plaintiff
Relevance:
The document outlines the terms of the loan agreement.
Reference:
Ext.A3
Document Type:
Agreement of hypothecation of movables
Submitted By:
Plaintiff
Relevance:
This document provides security for the loan.
Reference:
Ext.A4
Document Type:
Agreement of Guarantee
Submitted By:
Plaintiff
Relevance:
This agreement secures the repayment of the loan.
Reference:
Ext.A5
Document Type:
Disposal of proceeds letter
Submitted By:
Plaintiff
Relevance:
It outlines the allocation of loan proceeds.
Reference:
Ext.A6
Document Type:
Declaration by the borrower on details of relatives
Submitted By:
Plaintiff
Relevance:
This document details obligations of the borrower.
Reference:
Ext.A7
Document Type:
Acknowledgment of debt cum security
Submitted By:
Plaintiff
Relevance:
It serves as evidence of the acknowledgment of the debt.
Reference:
Ext.A8
Document Type:
Payment Slip
Submitted By:
Plaintiff
Relevance:
This document evidences the last payment made on the loan.
Reference:
Ext.A9
Document Type:
Statement of account No.6555409031 during the period from 16.08.2017 to 03.12.2023
Submitted By:
Plaintiff
Relevance:
The statement outlines the account activity 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
Non-payment of rent
Case Code
Case between Indian Bank et al vs M/s. A J Advisory Services et al regarding realisation of money
Case Code Year
Case between Indian Bank et al vs M/s. A J Advisory Services et al regarding realisation of money