Case Summary
The Federal Bank Ltd has filed a suit against M/S. U E Holidays Pvt. Ltd and its directors for recovery of an outstanding loan amount. The defendants failed to repay a temporary overdraft loan of Rs. 2,00,000/- taken by them in 2017.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Plaintiff entitled to realize Rs.3,92,931/- along with specified interest and costs.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The defendants failed to repay the loan and did not present any counter-evidence to refute the plaintiff's claims.
The defendants failed to repay the loan and did not present any counter-evidence to refute the plaintiff's claims.
Judgment Evidence:
In the result, suit is decreed as follows, The plaintiff is entitled to realize Rs.3,92,931/- (Rupees Three Lakh Ninety Two Thousand Nine Hundred and Thirty One only) from the defendants and from their assets.
Parties Involved
Plaintiffs
The Federal Bank Ltd (Age not specified years)
Alwaye, one of its branches at Ernakulam Bypass
Defendants
M/S. U E Holidays Pvt. Ltd (Age not specified years)
Building No.XIII/47, Thamath Bhavan, Ambalapuzha P. O, Alapuzha-688 561
Shri. Balachandran Nair K (Age not specified years)
Thamath House, Purakkad P.O., Ambalapuzha, Alapuzha District, Pin 688524
Shri. P Radhakrishnan (Age not specified years)
Sreevilasam XIII/118C, Changampuzha Nagar P.O., Kalamassery, Kochi-682033
Shri. T.K. Harikumar (Age not specified years)
Thamath House, Purakkad P.O., Ambalapuzha, Alapuzha District, Pin 688 524
Shri. Sathis Kumar (Age not specified years)
IEFKB Apartment, Fathima Square, Kadavanthra, Kochi-682020
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff sought recovery of Rs.3,92,931/- from the defendants.
Evidence:
The plaintiff is entitled to realize Rs.3,92,931/- (Rupees Three Lakh Ninety Two Thousand Nine Hundred and Thirty One only) from the defendants and from their assets.
Relief Type:
Interest
Outcome:
Granted
Description:
The plaintiff sought interest on the amount due at various rates.
Evidence:
The plaintiff is entitled to realize interest @ 12% per annum for Rs.3,92,931/- (Rupees Three Lakh Ninety Two Thousand Nine Hundred and Thirty One only) from the date of suit till date of decree from the defendants and from their assets.
Relief Type:
Interest
Outcome:
Granted
Description:
The plaintiff is entitled to further interest at a different rate until realization.
Evidence:
The plaintiff is entitled to realize interest @ 6% per annum for Rs.3,92,931/- (Rupees Three Lakh Ninety Two Thousand Nine Hundred and Thirty One only) from date of decree till date of realization from the defendants and from their assets.
Relief Type:
Costs
Outcome:
Granted
Description:
The plaintiff is entitled to recover the costs of the suit.
Evidence:
The plaintiff is entitled to realize costs of the suit from the defendants and from their assets.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
This document is the application for the temporary overdraft loan that initiated the claim.
Reference:
Ext.A1
Document Type:
Copies of notices
Submitted By:
Plaintiff
Relevance:
These documents are the notices sent to the defendants regarding the outstanding dues.
Reference:
Ext.A2
Document Type:
Cheque
Submitted By:
Plaintiff
Relevance:
This cheque was issued by the defendants, which was subsequently dishonored.
Reference:
Ext.A3
Document Type:
Cheque Return Memo
Submitted By:
Plaintiff
Relevance:
This memo confirms the dishonor of the cheque issued by the defendants.
Reference:
Ext.A4
Document Type:
Copy of Lawyer's notice
Submitted By:
Plaintiff
Relevance:
This notice was issued to the defendants demanding repayment of the dues.
Reference:
Ext.A5
Document Type:
Acknowledgment card along with postal receipt
Submitted By:
Plaintiff
Relevance:
This serves as proof of sending the notice to the defendants.
Reference:
Ext.A6
Document Type:
Postal receipt
Submitted By:
Plaintiff
Relevance:
This document serves as proof of delivery of the notice.
Reference:
Ext.A7
Document Type:
Copies of Lawyer's notice to 1st defendant
Submitted By:
Plaintiff
Relevance:
This is another notice sent to the first defendant regarding the dues.
Reference:
Ext.A8
Document Type:
Postal receipt
Submitted By:
Plaintiff
Relevance:
This document serves as proof of delivery for the notice sent to the first defendant.
Reference:
Ext.A9
Document Type:
Original of letter of 1st defendant company
Submitted By:
Plaintiff
Relevance:
This letter acknowledged the liability of the defendants towards the plaintiff's claim.
Reference:
Ext.A10
Document Type:
Current account opening form
Submitted By:
Plaintiff
Relevance:
This form is related to the account from which the overdraft was granted.
Reference:
Ext.A11
Document Type:
Board Resolution
Submitted By:
Plaintiff
Relevance:
This resolution pertains to the company's authorization to avail the loan.
Reference:
Ext.A12
Document Type:
Board Resolution
Submitted By:
Plaintiff
Relevance:
This resolution is another authorization relevant to the loan agreement.
Reference:
Ext.A13
Document Type:
Statement of account along with certification
Submitted By:
Plaintiff
Relevance:
This statement details the financial transactions and outstanding amount.
Reference:
Ext.A14
Document Type:
Statement of capitalization of penal interest
Submitted By:
Plaintiff
Relevance:
This document details the penal interest calculation related to the overdraft.
Reference:
Ext.A15