Case Summary
Kerala Gramin Bank filed a suit for recovery of a vehicle loan amount from Akhil.C.R and Sajeev.T.V, who defaulted on repayment. The defendants were absent during the proceedings and the court ruled in favor of the plaintiff.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Plaintiff is allowed to realise an amount of ₹3,55,591.34 with interest till the date of realisation and recover costs of the suit.
Case Type
Original Suit
Final Judgment
No
The court ruled in favor of Kerala Gramin Bank, allowing them to recover the outstanding loan amount from the defendants. The defendants were found to have defaulted on the loan repayments.
Why Plaintiff Won:
The unchallenged evidence and documents fully establish the case of the plaintiff.
The unchallenged evidence and documents fully establish the case of the plaintiff.
Losing Side's Weaknesses:
The unchallenged evidence and documents fully establish the case of the plaintiff.
The unchallenged evidence and documents fully establish the case of the plaintiff.
Supporting Evidence
The unchallenged evidence and documents fully establish the case of plaintiff. However, I am of the opinion that 2% penal interest can be avoided.
Judgment Evidence:
In the result, suit is decreed with costs as follows: 1.Plaintiff is allowed to realise an amount of ₹3,55,591.34 together with interest at the rate of 10.75% per annum from 5/03/2023 till the date of realisation from the defendants jointly and severally. 2.Plaintiff is also allowed to recover costs of the suit from the defendants.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Kerala Gramin Bank
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Akhil.C.R
- Party Age
- 32
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Sajeev.T.V
- Party Age
- 45
- Relation
- S/o
Plaintiffs Documents
Agreement for vehicle loan, Guarantee agreement, Guarantee covering letter, Hypothecation agreement, Copy of lawyer notice, Statement of accounts, Acknowledgment of debt.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. C. Balachandran
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff allowed to realise an amount of ₹3,55,591.34 together with interest.
Evidence:
In the result, suit is decreed with costs as follows: 1.Plaintiff is allowed to realise an amount of ₹3,55,591.34 together with interest at the rate of 10.75% per annum from 5/03/2023 till the date of realisation from the defendants jointly and severally.
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff allowed to recover costs of the suit from the defendants.
Evidence:
2.Plaintiff is also allowed to recover costs of the suit from the defendants.
Documents & Evidence
Document Type:
Agreement for Vehicle Loan
Submitted By:
Plaintiff
Relevance:
Executed by the first defendant for availing vehicle loan.
Reference:
Ext.A1
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Executed by the second defendant as a guarantor for the vehicle loan.
Reference:
Ext.A2
Document Type:
Guarantee covering letter
Submitted By:
Plaintiff
Relevance:
Related to the guarantee provided by the second defendant.
Reference:
Ext.A3
Document Type:
Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Document outlining the hypothecation of the vehicle for the loan.
Reference:
Ext.A4
Document Type:
Copy of Lawyer Notices
Submitted By:
Plaintiff
Relevance:
Includes lawyer notices sent to defendants regarding default.
Reference:
Ext.A5 series
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Shows the amount due from defendants with interest calculations.
Reference:
Ext.A6
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Acknowledgment of the debt by the first defendant.
Reference:
Ext.A7
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Acknowledgment of the debt by the first defendant on a different date.
Reference:
Ext.A8
Case Classification
Case Type
Original 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 Kerala Gramin Bank vs Akhil.C.R et al regarding recovery of loan amount
Case Code Year
Case between Kerala Gramin Bank vs Akhil.C.R et al regarding recovery of loan amount