Case Summary
UCO Bank filed a suit against M/s Merin Traders and its proprietor for the recovery of a loan amounting to ₹3,79,924. The defendants failed to repay the loan as agreed, leading to this action.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
An amount of 3,79,924/- with interest at the rate of 6% per annum until realization.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The evidence presented by the plaintiff was uncontested and established the defendants' liability.
The evidence presented by the plaintiff was uncontested and established the defendants' liability.
Judgment Evidence:
In the result, the suit is decreed as follows: The defendants are directed to pay to the plaintiff, an amount of 3,79,924/- with interest at the rate of 6% per annum from the date of institution of the suit, till its realisation.
Parties Involved
Plaintiffs
UCO Bank (Age not specified years)
Valiyaparambil Square, Panambukadu Road, Vallarpadam, Ernakulam - 682 504
Defendants
M/s Merin Traders (Age not specified years)
No.X6/633B, Valappu East, Ochanthuruth, Elamkunnapuzha, Ernakulam – 682 508
Mr. Antony Manuel A.K (Age not specified years)
Attipetty House, Ochanthuruthu.P.O, Valap East, Ernakulam – 682 508
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendants are directed to pay the plaintiff an amount with interest.
Evidence:
I am of the opinion that the defendants owe a total amount of 3,79,924/- to the plaintiff.
Relief Type:
Costs
Outcome:
Granted
Description:
The plaintiff is entitled to the costs of the suit from the defendants.
Evidence:
Considering the nature of the suit and circumstances surrounding the suit, the plaintiff is entitled to the costs of the suit from the defendants.
Documents & Evidence
Document Type:
Letter of Sanction Containing terms and conditions
Submitted By:
Plaintiff
Relevance:
This document outlines the terms under which the loan was sanctioned.
Reference:
Ext.A1
Document Type:
Agreement relating to Term Loan
Submitted By:
Plaintiff
Relevance:
This agreement details the conditions of the term loan availed by the defendants.
Reference:
Ext.A2
Document Type:
Deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
The deed establishes the hypothecation of assets as security for the loan.
Reference:
Ext.A3
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
This document serves as a guarantee for the loan amount.
Reference:
Ext.A4
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
This note is a formal promise to pay the specified amount to the bank.
Reference:
Ext.A5
Document Type:
Letter of Waiver
Submitted By:
Plaintiff
Relevance:
This letter indicates any waivers of specific loan conditions.
Reference:
Ext.A6
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
This document officially communicates the approval of the loan.
Reference:
Ext.A7
Document Type:
Agreement relating to Term Loan
Submitted By:
Plaintiff
Relevance:
Details specific to another term loan agreement.
Reference:
Ext.A8
Document Type:
Deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Hypothecation details for another loan.
Reference:
Ext.A9
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Guarantee details for the loan.
Reference:
Ext.A10
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Another promissory note regarding the loan.
Reference:
Ext.A11
Document Type:
Letter of Waiver
Submitted By:
Plaintiff
Relevance:
Indicates waivers applicable to the second loan.
Reference:
Ext.A12
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Official communication of loan sanction dated 24.06.2021.
Reference:
Ext.A13
Document Type:
Articles of agreement
Submitted By:
Plaintiff
Relevance:
Details the terms of agreement for the specific loan.
Reference:
Ext.A14
Document Type:
Recall Notice
Submitted By:
Plaintiff
Relevance:
Notice regarding the recall of the loan.
Reference:
Ext.A15
Document Type:
Postal Acknowledgment Card
Submitted By:
Plaintiff
Relevance:
Acknowledgment for documents sent through postal service.
Reference:
Ext.A16
Document Type:
Computer print out of Statement of Account
Submitted By:
Plaintiff
Relevance:
Account statement showing the financial transactions over a specified period.
Reference:
Ext.A17
Document Type:
Computer print out of Calculation Statement of interest
Submitted By:
Plaintiff
Relevance:
Calculation of interest on the loan.
Reference:
Ext.A18
Document Type:
Computer print out of Statement of Account
Submitted By:
Plaintiff
Relevance:
Another account statement showing transactions from a different period.
Reference:
Ext.A19
Document Type:
Computer print out of Calculation Statement of interest
Submitted By:
Plaintiff
Relevance:
Further calculation of interest for the loan.
Reference:
Ext.A20