Case Summary
This case involves Union Bank of India seeking recovery of ₹7,71,327.10 from Karthik S due to default in loan repayment. The defendant had taken a loan for setting up a textile shop but failed to repay as agreed.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Plaintiff is entitled to recover ₹7,71,327.10 along with interest
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff provided documentation proving the defendant's default on the loan repayment.
The plaintiff provided documentation proving the defendant's default on the loan repayment.
Judgment Evidence:
In the result, the suit is decreed with costs as follow. Plaintiff is entitled to recover Rs. 7.71,327.10 from the defendant along with interest @8.55% from the date of suit till to the date of the decree and interest @ of 6% per annum for the date of decree till realisation.
Parties Involved
Plaintiffs
Union Bank of India (Age not specified years)
Poonithura Branch, Door no. 29, 2826A, Aditya Gandhi square, Poonithura P.O, Ernakulam, Pin – 682 038
Defendants
Karthik S (41 years)
Karthik Nivas, 47/619, Kopparambu lane, Poonithura P.O, Ernakulam – 682 038
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover Rs. 7.71,327.10 along with interest.
Evidence:
In the result, the suit is decreed with costs as follow. Plaintiff is entitled to recover Rs. 7.71,327.10 from the defendant along with interest @8.55% from the date of suit till to the date of the decree and interest @ of 6% per annum for the date of decree till realisation.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Submitted by the defendant to apply for a loan.
Reference:
Ext.A1
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Document confirming the approval of the loan.
Reference:
Ext.A2
Document Type:
Term loan agreement
Submitted By:
Plaintiff
Relevance:
Document outlining the terms of the loan.
Reference:
Ext.A3
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Legal document executed by the defendant acknowledging the loan.
Reference:
Ext.A4
Document Type:
Letter of Continuity
Submitted By:
Plaintiff
Relevance:
Document regarding the continuity of the loan agreement.
Reference:
Ext.A5
Document Type:
Letter of General Lien and Set Off
Submitted By:
Plaintiff
Relevance:
Document providing lien rights to the bank.
Reference:
Ext.A6
Document Type:
Interest Agreement
Submitted By:
Plaintiff
Relevance:
Document specifying the terms of interest on the loan.
Reference:
Ext.A7
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Document outlining the defendant's commitments regarding the loan.
Reference:
Ext.A8
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Notice issued to the defendant demanding payment.
Reference:
Ext.A9
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Detailed account of the loan transactions.
Reference:
Ext.A10
Document Type:
Authorisation Letter
Submitted By:
Plaintiff
Relevance:
Document proving the authority of PW1 to represent the bank.
Reference:
Ext.A11
Document Type:
Statement of Accounts
Submitted By:
Defendant
Relevance:
Document presented by the defendant showing transactions.
Reference:
Ext.B1
Document Type:
Oral Evidence
Submitted By:
Unknown
Relevance:
Testimony provided by witnesses from both sides.
Reference: