In an unchallenged suit for recovery of a loan, the High Court of Madras, relying on uncontradicted evidence including notices and borrower acknowledgments, decreed the suit directing the defendants to pay the principal sum along with reduced interest and costs.
Decree directing the defendants to pay a sum of Rs.30,08,471/- along with interest and costs.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
1
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 19.04.2018
CORAM
THE HONOURABLE MR.JUSTICE N. SATHISH KUMAR
C.S.No.795 of 2015
Mrs. Shanti Devi Galada
W/o Mr. Ashok Galada
Old No.4, New No.7
Shaffee Mohammed Road,
Thousand Lights,
Chennai 600006. ... Plaintiff
//vs//
1. Mrs. G. Sheila Raju
2. Mr. G.M.K. Raju ... Defendants
Plaint filed under Order VII Rule 1 of Civil Procedure Code read with Order IV Rule 1 of Madras High Court Original Side Rules for directing the defendants to pay the plaintiff a sum of Rs.30,08,471/alongwith an interest at the rate of 24% per annum for the principal amount of Rs.15,00,000/- from the date of filing of the suit till the date or realization and for costs of the suit.
For Plaintiff : Mr. V.S. Senthilkumar For Defendants : No appearance
2
JUDGMENT
The suit has been filed for recovery of Rs.30,08,471/- along with interest at the rate of 24% per annum for the principal amount of Rs.15,00,000/-. The case of the plaintiff is that the defendnats
have borrowed a sum of Rs.15,00,000/- as loan and they have executed pro-note on 02.11.2010 and agreed to pay the loan amount in 36 instalments. However, they have paid only 9 instalments on 01.12.2010, 03.01.2011, 01.02.2011, 02.03.2011, 05.04.2011 04.05.2017, 26.09.2011, 30.12.2011 and 28.08.2012. Thereafter, they committed default. The defendants remained exparte.
on 13.10.2012 and 31.12.2012 to pay the loan amount. Ex.P.5 letter addressed by the 1st defendant not only proves the loan transaction
3
but also proves the acknowledgment of loan availed in writing. Account statement with regard to the loan transaction maintained by the plaintiff is Ex.P.6.
documents marked on the side of the plaintiff also clearly prove the loan transaction and default on the part of the defendants. As the evidence adduced and the documents marked by the plaintiff remain
unchallenged, this Court is of the view that the plaintiff has proved her claim.
pay a sum of Rs.30,08,471/- to the plaintiff with interest at the rate of 7.5% per annum for the principal amount of Rs.15,00,000/- from
the date of plaint till the date of judgment. Thereafter, at the rate of 6% from the date of judgment till the date of realisation, with costs.
19.04.2018
Speaking / Non-speaking Order
Index : Yes/No
ggs
4
N. SATHISH KUMAR, J.
ggs
C.S.No.795 of 2015
19.04.2018
2 issues framed by the court
Whether the plaintiff proved her claim for recovery of loan amount and interest arising from a default in installment payments.
The extent of interest and costs to be awarded by the court in the given circumstances.
2 provisions across 2 enactments
Shanti Devi Galada
Mrs. G. Sheila Raju
Mr. G.M.K. Raju
N. Sathish Kumar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
