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
The court decreed in favor of the plaintiff, ordering the defendants to pay the due amount along with interest. The plaintiff is also entitled to recover costs of the suit from the defendants.
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.
Losing Side's Weaknesses:
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.
Supporting Evidence
From the uncontested evidence of the PW1, I am of the opinion that the case of the plaintiff stands proved. There is no reason to disbelieve the evidence tendered by PW1.
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
Parties
- Party Role
- Plaintiff
- Party Name
- UCO Bank
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- M/s Merin Traders
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Mr. Antony Manuel A.K
- Relation
- S/o
Plaintiffs Documents
Letter of Sanction, Agreement relating to term loan, Deed of hypothecation, Guarantee Agreement, Demand Promissory Note, Sanction Letter, Agreement relating to Term Loan, Articles of Agreement, Recall Notice
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- G. G Manoj
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- S. Sarath Prasad
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Renish Raveendran
- Appearance Type
- Main Counsel
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
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Recovery of money
Case Code
Case between UCO Bank vs M/s Merin Traders et al regarding realisation of money
Case Code Year
Case between UCO Bank vs M/s Merin Traders et al regarding realisation of money