Case Summary
UCO Bank filed a suit against M/s Las Vegas Fitness Center and Mathew Joseph for recovery of money owed under two loan agreements. The defendants defaulted on repayments, leading to the bank seeking legal recourse to recover the amounts due.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff is entitled to realize a sum of Rs.8,13,195.13/- from the defendants and their assets.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff successfully proved their claim based on the executed loan agreements and the default in repayment by the defendants.
The plaintiff successfully proved their claim based on the executed loan agreements and the default in repayment by the defendants.
Judgment Evidence:
Hence, the suit is decreed as follows; The plaintiff is entitled to realize a sum of Rs.8,13,195.13/- (Rupees Eight Lakh Thirteen Thousand One Hundred and Ninety Five and Thirteen Paise only) from the defendants and from their assets.
Parties Involved
Plaintiffs
UCO Bank (Age not specified years)
Punnaparambil buildings, Kakkanad, Veegaland Road, Kakkanadu, Ernakulam- 682 030
Defendants
M/s Las Vegas Fitness Center (Age not specified years)
X/53C, Near Hotel Park Residency, Seaport-Airport Road, Eachamukku, Kakkanad, Ernakulam, Pin- 682 030
Mathew Joseph (37 years)
Padayatty, Elanthikkara P.O, Vattekattukunnu, Puthenvelikkara, Ernakulam, Pin-683 594
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff is entitled to recover the sum owed from the defendants.
Evidence:
the plaintiff is entitled to realize a sum of Rs.8,13,195.13/- (Rupees Eight Lakh Thirteen Thousand One Hundred and Ninety Five and Thirteen Paise only) from the defendants and from their assets.
Relief Type:
Interest
Outcome:
Granted
Description:
The plaintiff is entitled to recover interest from the defendants.
Evidence:
the plaintiff is entitled to realize interest @ 10.85 % per annum for the plaintiff is entitled to realize a sum of Rs.8,13,195.13/- (Rupees Eight Lakh Thirteen Thousand One Hundred and Ninety Five and Thirteen Paise only) from the date of suit till date decree from the defendants and from their assets.
Relief Type:
Interest
Outcome:
Granted
Description:
The plaintiff is entitled to recover interest at a different rate post-decree.
Evidence:
the plaintiff is entitled to realize interest @ 6% per annum for the plaintiff is entitled to realize a sum of Rs.8,13,195.13/- (Rupees Eight Lakh Thirteen Thousand One Hundred and Ninety Five and Thirteen Paise only) from date of decree till date of realization from the defendants and from their assets.
Relief Type:
Other
Outcome:
Granted
Description:
The plaintiff is entitled to recover costs incurred in the suit.
Evidence:
the plaintiff is entitled to realize costs of the suit from defendants and from their assets.
Documents & Evidence
Document Type:
Loan Sanction Letter
Submitted By:
Plaintiff
Relevance:
This document indicates the original loan sanctioned to the defendants.
Reference:
Ext.A1
Document Type:
Term loan agreement
Submitted By:
Plaintiff
Relevance:
This document confirms the terms of the term loan agreed upon by the defendants.
Reference:
Ext.A2
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
This document establishes the personal guarantee provided by the guarantor.
Reference:
Ext.A3
Document Type:
Composite Deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
This document secures the loan against the defendants' assets.
Reference:
Ext.A4
Document Type:
Deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
This document is an additional security for the term loan.
Reference:
Ext.A5
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
This document indicates the defendants' promise to repay the loan amount.
Reference:
Ext.A6
Document Type:
Letter of Sanction
Submitted By:
Plaintiff
Relevance:
This document approves an additional working capital term loan to the defendants.
Reference:
Ext.A7
Document Type:
Composite Deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
This document is another hypothecation securing the additional loan.
Reference:
Ext.A8
Document Type:
Term loan agreement
Submitted By:
Plaintiff
Relevance:
This document outlines the terms of the additional loan taken by the defendants.
Reference:
Ext.A9
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
This document serves as a promise to repay the amount of the new loan.
Reference:
Ext.A10
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
This document covers the guarantee for the additional loan amount.
Reference:
Ext.A11
Document Type:
Revival Letter
Submitted By:
Plaintiff
Relevance:
This document indicates the revival of the loan agreement by the defendants.
Reference:
Ext.A12
Document Type:
Revival Letter
Submitted By:
Plaintiff
Relevance:
This letter further revives the loan agreement.
Reference:
Ext.A13
Document Type:
Revival Letter
Submitted By:
Plaintiff
Relevance:
This letter continues the acknowledgment of their debt.
Reference:
Ext.A14
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
This document provides a detailed account record of the loan.
Reference:
Ext.A15
Document Type:
Calculation Statement
Submitted By:
Plaintiff
Relevance:
This document contains calculations related to the loan amounts.
Reference:
Ext.A16
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
This document is another account statement for the loan.
Reference:
Ext.A17
Document Type:
Calculation Statement
Submitted By:
Plaintiff
Relevance:
This document is another calculation statement pertaining to the loan.
Reference:
Ext.A18