Case Summary
The plaintiff is State Bank Of India, represented by its Chief Manager. The defendants are M/s Squads Multi Gymnasium and its proprietor Abhijith.R.S, who defaulted on a loan repayment.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff is entitled to realize Rs.6,44,873.94 and Rs.49,700.97 from the defendants with interest.
Case Type
Civil Suit
Final Judgment
No
The suit has been decreed in favor of the plaintiff, allowing them to recover the outstanding loan amounts with interest.
Why Plaintiff Won:
The plaintiff's unchallenged evidence proved its entitlement to the loan amount.
The plaintiff's unchallenged evidence proved its entitlement to the loan amount.
Losing Side's Weaknesses:
The plaintiff's unchallenged evidence proved its entitlement to the loan amount.
The plaintiff's unchallenged evidence proved its entitlement to the loan amount.
Supporting Evidence
The plaintiff's unchallenged evidence proves 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 as per the following terms: 1. The plaintiff is entitled to realise an amount of Rs.6,44,873.94/- from the defendants with future interest at the rate of 12.75% per annum with monthly rest from 15.02.2023 till date of realization. 2. The plaintiff is entitled to realise an amount of Rs.49,700.97/- from the defendants with future interest at the rate of 9.25% per annum with monthly rest from 22.12.2022 till date of realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- State Bank Of India
- Party Role
- Defendant
- Party Name
- M/s Squads Multi Gymnasium
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Abhijith.R.S
- Relation
- S/o
Plaintiffs Documents
Loan Application dated 12.03.2019, Letter of agreement dated 18.05.2019, Agreement of loan-cum-hypothecation dated 18.05.2019, Letter of arrangement dated 12.06.2020, Supplemental Agreement of loan cum hypothecation dated 09.06.2020, Certified copy of statement of account No.38583845341 with certificate dated 18.05.2023, Certified copy of statement of account No.39402630891 with certificate dated 18.05.2023.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Smt.Anithas Jacob
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Recovery of Rs.6,44,873.94 from the defendants with future interest.
Evidence:
The plaintiff is entitled to realise an amount of Rs.6,44,873.94/- (Rupees Six lakhs Forty Four thousand Eight hundred and Seventy Three and Ninety Four paise only) from the defendants and from their assets with future interest at the rate of 12.75% per annum with monthly rest from 15.02.2023 till date of realization.
Relief Type:
Recovery
Outcome:
Granted
Description:
Recovery of Rs.49,700.97 from the defendants with future interest.
Evidence:
The plaintiff is entitled to realise an amount of Rs.49,700.97/- (Rupees Forty Nine thousand Seven hundred and Ninety Seven Paise only) from the defendants and from their assets with future interest at the rate of 9.25% per annum with monthly rest from 22.12.2022 till date of realization.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
The loan application dated 12.03.2019 initiated the loan process.
Reference:
Ext.A1
Document Type:
Letter of Agreement
Submitted By:
Plaintiff
Relevance:
The letter of agreement dated 18.05.2019 outlines the loan terms.
Reference:
Ext.A2
Document Type:
Agreement of loan cum hypothecation
Submitted By:
Plaintiff
Relevance:
The agreement of loan-cum-hypothecation dated 18.05.2019 secures the loan.
Reference:
Ext.A3
Document Type:
Letter of arrangement
Submitted By:
Plaintiff
Relevance:
The letter of arrangement dated 12.06.2020 details the terms of enhancement of the loan.
Reference:
Ext.A4
Document Type:
Supplemental Agreement of Loan Cum Hypothecation
Submitted By:
Plaintiff
Relevance:
The supplemental agreement dated 09.06.2020 provides additional security for the loan.
Reference:
Ext.A5
Document Type:
Certified copy of statement of account
Submitted By:
Plaintiff
Relevance:
The certified copy of statement of account No.38583845341 confirms the outstanding balance.
Reference:
Ext.A6
Document Type:
Certified copy of statement of account
Submitted By:
Plaintiff
Relevance:
The certified copy of statement of account No.39402630891 confirms the outstanding balance for the GECL loan.
Reference:
Ext.A7
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
2023