Case Summary
The plaintiff, Indian Overseas Bank, seeks to recover a loan amount from the defendants, who are the legal heirs and guarantors of the deceased borrower, Sri. C.D. Joseph. The defendants failed to repay the loan despite multiple demands.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff is entitled to recover an amount of ₹1,71,376/- with 6% interest from the date of the suit until the date of realization from the defendants 1 to 4 and their assets.
Case Type
Civil Suit
Final Judgment
No
The court decreed in favor of the plaintiff, allowing them to recover the outstanding loan amount along with interest from the defendants. The defendants were found liable for the dues.
Why Plaintiff Won:
The defendants failed to discharge their legal obligations despite several demands, leading to their liability for the debt.
The defendants failed to discharge their legal obligations despite several demands, leading to their liability for the debt.
Losing Side's Weaknesses:
The defendants failed to discharge their legal obligations despite several demands, leading to their liability for the debt.
The defendants failed to discharge their legal obligations despite several demands, leading to their liability for the debt.
Supporting Evidence
The oral and documentary evidence adduced by PW1 proves that an amount of ₹1,71,376/- is due from the defendants 1 to 4. The defendants are jointly and severally liable to repay the outstanding loan amount along with interest, as the defendants 1 to 3 have inherited the liability of the deceased borrower and the defendants 3 and 4 stood as guarantors for the loan.
Judgment Evidence:
In the result; the suit is decreed as follows: (a)The plaintiff is entitled to recover an amount of ₹1,71,376/-(Rupees One lakh Seventy-one Thousand Three Hundred and Seventy-Six only) with 6% interest from the date of the suit until the date of realization from the defendants 1 to 4 and their assets.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Indian Overseas Bank
- Relation
- represented by
- Party Role
- Defendant
- Party Name
- Shinu Joseph
- Party Age
- 42
- Relation
- D/o
- Party Role
- Defendant
- Party Name
- Binu Joseph
- Party Age
- 39
- Relation
- D/o
- Party Role
- Defendant
- Party Name
- Jacob Joseph
- Party Age
- 37
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Liby Baby
- Party Age
- 35
- Relation
- W/o
Plaintiffs Documents
Original loan application under the pensioners' loan scheme dated 05/01/2016, Original credit sanction advice, Original letter of undertaking from the pensioner, Original undertaking for repayment in installments, Original guarantee for cash credit, Original demand promissory note, Letter of Authority, Consent-cum-authorization letter, Copy of the lawyer's Notice dated 25/06/2018, True Extract of the bank statement.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Smt.Asha Krishnan.S
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff is entitled to recover an amount of ₹1,71,376/- with 6% interest from the date of the suit until the date of realization from the defendants 1 to 4.
Evidence:
the plaintiff is entitled to recover an amount of ₹1,71,376/-(Rupees One lakh Seventy-one Thousand Three Hundred and Seventy-Six only) with 6% interest from the date of the suit until the date of realization from the defendants 1 to 4 and their assets.
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff is also entitled to recover the costs of this suit from the defendants 1 to 4.
Evidence:
the plaintiff is also entitled to recover the costs of this suit from the defendants 1 to 4 and their assets.
Documents & Evidence
Document Type:
Original loan application
Submitted By:
Plaintiff
Relevance:
The original loan application under the pensioners' loan scheme dated 05/01/2016 signed by Late Sri. C.D. Joseph.
Reference:
Ext.A1
Document Type:
Original Credit Sanction advice
Submitted By:
Plaintiff
Relevance:
The original credit sanction advice issued by the plaintiff bank.
Reference:
Ext.A2
Document Type:
Original letter of undertaking from the pensioner
Submitted By:
Plaintiff
Relevance:
The original letter of undertaking dated 05/01/2016 signed by Late Sri. C.D. Joseph.
Reference:
Ext.A3
Document Type:
Original undertaking for repayment in installments
Submitted By:
Plaintiff
Relevance:
The original undertaking for repayment in installments dated 05/01/2016.
Reference:
Ext.A4
Document Type:
Original guarantee for cash credit
Submitted By:
Plaintiff
Relevance:
The original guarantee for cash credit dated 05/01/2016.
Reference:
Ext.A5
Document Type:
Original Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
The original demand promissory note dated 05/01/2016 signed by Late Sri. C.D. Joseph.
Reference:
Ext.A6
Document Type:
Letter of authority
Submitted By:
Plaintiff
Relevance:
The letter of authority dated 05/01/2016.
Reference:
Ext.A7
Document Type:
Consent-cum-authorization letter
Submitted By:
Plaintiff
Relevance:
The consent-cum-authorization letter dated 05/01/2016 signed by Late Sri. C.D. Joseph.
Reference:
Ext.A8
Document Type:
Copy of the lawyer's notice
Submitted By:
Plaintiff
Relevance:
The copy of the lawyer's notice dated 25/06/2018 issued to the defendants.
Reference:
Ext.A9
Document Type:
True Extract of the bank statement
Submitted By:
Plaintiff
Relevance:
The true extract of the bank statement of the defendants for the period from 05/01/2016 to 19/06/2018.
Reference:
Ext.A11
Document Type:
Oral Evidence
Submitted By:
Plaintiff
Relevance:
The oral and documentary evidence adduced by PW1 to prove the case.
Reference:
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Thiruvananthapuram
State
Kerala
Court Establishment
Munsiff Court Thiruvananthapuram
Common Reasons
Recovery of money
Case Code
OS.NO.
Case Code Year
2018