Case Summary
M/s UCO Bank filed a suit against Chandra Shekaran Nair and Madhu Kumar for the recovery of a loan amounting to Rs. 1,21,808/- due to default in repayment. The court dismissed the suit citing that it was barred by the law of limitation.
Judgment Outcome
Judgment Favored
Defendant
Relief Granted
Case Type
Civil Suit
Final Judgment
No
The court found that the suit was barred by the law of limitation and thus dismissed it. No order on costs was made due to the defendants being exparte.
Key Reasoning:
The suit was barred by law of limitation as the acknowledgment of debt was not established.
The suit was barred by law of limitation as the acknowledgment of debt was not established.
Why Defendant Won:
The suit was barred by law of limitation as the acknowledgment of debt was not established.
The suit was barred by law of limitation as the acknowledgment of debt was not established.
Supporting Evidence
Thus the suit is seen filing much belatedly after the period of limitation.
Judgment Evidence:
In the result, suit is dismissed.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- M/s UCO Bank
- Party Role
- Defendant
- Party Name
- Chandra Shekaran Nair
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Madhu Kumar
- Relation
- S/o
Plaintiffs Documents
Original Loan Agreement, Hypothecation Agreement, Original guarantee Agreement, Original sanction letter, Statement of account of the loan along with certification, Office copy of demand lawyer's notice
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Pearson S. Fernandez
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Zeena S. Fernandez
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Refused
Description:
Plaintiff sought repayment of the outstanding loan amount.
Evidence:
Since issue No.1 is answered against the plaintiff, accordingly there arises no scope for recovery of plaint claim as sought for by the plaintiff with interest.
Documents & Evidence
Document Type:
Loan Agreement
Submitted By:
Plaintiff
Relevance:
Original loan agreement dated 20.10.2004 evidencing the sanctioned loan.
Reference:
Ext.A1
Document Type:
Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Original hypothecation agreement dated 20.10.2004 securing the loan with stocks.
Reference:
Ext.A2
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Original guarantee agreement dated 20.10.2004 executed by the second defendant.
Reference:
Ext.A3
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Original sanction letter dated 20.10.2004 detailing the loan terms.
Reference:
Ext.A4
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Statement of account of the loan along with certification evidencing outstanding dues.
Reference:
Ext.A5
Document Type:
Demand Lawyer's Notice
Submitted By:
Plaintiff
Relevance:
Office copy of demand lawyer's notice dated 18.02.2019 requiring repayment.
Reference:
Ext.A6
Case Classification
Case Type
Civil Suit
Category
Other Civil Cases
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Non-payment of rent
Case Code
Case between M/s UCO Bank vs Chandra Shekaran Nair et al regarding loan repayment
Case Code Year
Case between M/s UCO Bank vs Chandra Shekaran Nair et al regarding loan repayment