Case Summary
UCO Bank is seeking to recover a loan amount from M/s Solution Computer Centre and its partners Mohammed Rafeeque.V.P. and Noushad.C. The defendants have failed to repay the loan despite multiple reminders.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants pay sum of ₹3,43,481/- with interest @ 14.10% p.a. from the date of the institution of the suit till the date of decree.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff proved the case with unrebutted evidence and relevant documents.
The plaintiff proved the case with unrebutted evidence and relevant documents.
Judgment Evidence:
In the result, the suit is decreed with costs as follows:- (a) The defendants do pay sum of ₹3,43,481/- (Rupees Three Lakh forty three thousand four hundred and eighty one only) to the plaintiff with an interest @ 14.10% p.a from the date of the institution of the suit till the date of decree.
Parties Involved
Plaintiffs
UCO Bank (Age not specified years)
Defendants
M/s Solution Computer Centre (Age not specified years)
Banglavukunnu, Cheriyamundam amsom & Post, Tirur Taluk. PIN 676 106
Mohammed Rafeeque.V.P. (34 years)
Valiyapeediyekkal House, Parapputhadam,Tirur Taluk. Cheriyamundam amsom & Post, PIN 676 106.
Noushad.C. (37 years)
Chelad House, Parapputhadam, Tirur Taluk. Cheriyamundam amsom & Post, PIN 676 106.
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendants are ordered to pay a sum of ₹3,43,481/- to the plaintiff.
Evidence:
In the result, the suit is decreed with costs as follows:- (a) The defendants do pay sum of ₹ 3,43,481/- (Rupees Three Lakh forty three thousand four hundred and eighty one only) to the plaintiff with an interest @ 14.10% p.a from the date of the institution of the suit till the date of decree.
Relief Type:
Interest
Outcome:
Granted
Description:
The defendants are to pay interest on the principal amount at the rate of 2% per annum from the date of the decree till its realization.
Evidence:
(b) The defendants do pay thereafter an interest at the rate of 2% per annum on the principal amount from the date of the decree till its realization.
Relief Type:
Costs
Outcome:
Granted
Description:
The defendants are ordered to pay costs to the plaintiff.
Evidence:
(c) Costs shall follow the event. Hence the defendants do pay costs to the plaintiff.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
The document shows that the defendants applied for a loan of Rs.5,36,000/-.
Reference:
Ext.A1
Document Type:
Loan Sanction Letter
Submitted By:
Plaintiff
Relevance:
This letter confirms the sanction of the loan amount.
Reference:
Ext.A2
Document Type:
Deed of Hypothecation of Movable Plant and Machinery
Submitted By:
Plaintiff
Relevance:
These documents are the deeds executed by the defendants for securing the term loan.
Reference:
Ext.A3 to A5
Document Type:
Balance Confirmation Letter
Submitted By:
Plaintiff
Relevance:
These letters confirm the balance amounts due in the loan account.
Reference:
Ext.A6 & A7
Document Type:
Copy of Lawyer Notice
Submitted By:
Plaintiff
Relevance:
This document evidences the notice sent to the defendants demanding repayment.
Reference:
Ext.A8
Document Type:
True Copy of Statement of Accounts
Submitted By:
Plaintiff
Relevance:
This document provides a certified extract of the accounts relating to the loan.
Reference:
Ext.A9