Case Summary
The plaintiff, UCO Bank, filed a suit against the defendants, M/s Nihas Collections and its proprietor Rinu Kunjumon, for non-repayment of a cash credit and term loan totaling Rs. 7,00,351.02. Defendants failed to appear in court and were set exparte.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.7,00,351.02/- along with 10.50% interest from the date of suit till the date of decree and 6% from the date of decree till payment or realization.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
Plaintiff established a case for the recovery of the loan amount through presented evidence.
Plaintiff established a case for the recovery of the loan amount through presented evidence.
Judgment Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.7,00,351.02/- along with 10.50% interest from the date of suit till the date of decree and 6% from the date of decree till payment or realization.
Parties Involved
Plaintiffs
UCO Bank (Age not specified years)
Chottanikkara Branch, Tharakandam Complex, Chottanikkara Mulanthuruthy Road, Chottanikkara, Ernakulam District, Pincode-682312
Defendants
M/s Nihas Collections (Age not specified years)
No. 3/81-1, Shop No. 7 Ground Floor, Palakats, Udayamperoor P O, Manakunnam, Ernakulam, Kerala-682307
Rinu Kunjumon (Age not specified years)
Koodazhathu House, Nadakkavu P O, Udayamperoor, Manakunnam, Ernakulam-682307
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants shall pay Rs.7,00,351.02/- along with interest.
Evidence:
Defendants are directed to pay interest @10.50% per annum from the date of suit till the date of realization or payment and 6% from the date of decree till the date of payment or realization, as the case may be, to the plaintiff.
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants and their assets shall be liable to satisfy the decree debt.
Evidence:
Defendants shall be personally and their assets shall also be liable to satisfy the decree debt.
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff entitled to realize the costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Shows the terms and conditions are duly signed and accepted by the defendants on 28.07.2022.
Reference:
Ext.A1
Document Type:
Composite Deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Executed by the defendants in favour of the plaintiff bank.
Reference:
Ext.A2
Document Type:
Agreement relating to Term Loan
Submitted By:
Plaintiff
Relevance:
Duly executed by the defendant.
Reference:
Ext.A3
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Executed in favour of the plaintiff bank against the term loan facility sanctioned.
Reference:
Ext.A4
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Shows the defendants executed a demand promissory note for Rs.1,00,000.
Reference:
Ext.A5
Document Type:
Demand Notice
Submitted By:
Plaintiff
Relevance:
Issued to the defendants regarding the loan defaults.
Reference:
Exts.A6 and A7
Document Type:
Statement of Account under Cash Credit Loan
Submitted By:
Plaintiff
Relevance:
Duly certified statement showing amounts due.
Reference:
Ext.A8
Document Type:
Calculation Statement of Interest
Submitted By:
Plaintiff
Relevance:
Shows the interest accrued but not applied in the account.
Reference:
Ext.A9
Document Type:
Statement of Account under Term Loan
Submitted By:
Plaintiff
Relevance:
Duly certified statement showing amounts due.
Reference:
Ext.A10
Document Type:
Calculation Statement of Interest
Submitted By:
Plaintiff
Relevance:
Shows the interest accrued but not applied in the account.
Reference:
Ext.A11