Case Summary
UCO Bank filed a suit against M/s S B Agencies for recovery of a loan amount of Rs. 7,49,326.20. The defendant failed to repay the loan, leading to the bank classifying the account as a Non-Performing Asset.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
An amount of Rs. 7,29,456.76 with 9% interest per annum from the date of the suit till the date of decree.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The unchallenged proof affidavit and documents satisfactorily proved the plaint claim.
The unchallenged proof affidavit and documents satisfactorily proved the plaint claim.
Judgment Evidence:
In the result, the suit is decreed directing the defendants to pay an amount of 7,29,456.76/- (Rupees Seven Lakh Twenty Nine Thousand Four Hundred and Fifty Six and Paise Seventy Six only), with 9% interest per annum from the date of suit till the date of decree.
Parties Involved
Plaintiffs
UCO Bank (Age not specified years)
Vyttila Branch, Midland Arcade, Chilavannoor road, Vytilla, Kadavanthra, Ernakulam, Pin – 682 020
Defendants
M/s S B Agencies (Age not specified years)
62/A, Cheruthodath house, Kotheswaram road, Kumbalam, Ernakulam, Kerala, Pin – 682 506
Muhammed Basheer P.P (60 years)
62/A, Cheruthodath house, Kotheswaram road, Kumbalam, Ernakulam, Kerala, Pin – 682 506
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover the outstanding amount from the defendant.
Evidence:
The suit is decreed directing the defendants to pay an amount of 7,29,456.76/- (Rupees Seven Lakh Twenty Nine Thousand Four Hundred and Fifty Six and Paise Seventy Six only), with 9% interest per annum from the date of suit till the date of decree.
Documents & Evidence
Document Type:
Letter of Sanction
Submitted By:
Plaintiff
Relevance:
Contains the terms and conditions of sanction, duly signed and accepted by the defendant.
Reference:
Ext.A1
Document Type:
Composite Deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Secures the loan by hypothecating all present and future goods and movable assets in favor of the plaintiff bank.
Reference:
Ext.A2
Document Type:
Agreement relating to Term Loan
Submitted By:
Plaintiff
Relevance:
Details the terms of the term loan agreed upon by the defendant.
Reference:
Ext.A3
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
Executed by the defendant in favor of the plaintiff bank for the loan amount.
Reference:
Ext.A4
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Issued by U.C.O Bank, detailing the loan account's financial status.
Reference:
Ext.A5
Document Type:
Calculation Statement of Interest
Submitted By:
Plaintiff
Relevance:
Shows the interest accrued but not applied to the defendant's account.
Reference:
Ext.A6