Case Summary
The Plaintiff is Union Bank of India suing the defendant, Ajitha Joy Homes, for recovery of a loan under the Pradhan Manthri Mudra Yojana Scheme. Defendant defaulted on repayment and sold hypothecated assets without permission, making recovery impossible.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Case Type
Civil Suit
Final Judgment
No
Plaintiff is entitled to recover outstanding loan amount with interest and costs from the defendant and his assets.
Why Plaintiff Won:
Losing Side's Weaknesses:
Supporting Evidence
Judgment Evidence:
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Union Bank of India
- Relation
- Represented by Principal Officer and Branch Manager
- Party Role
- Defendant
- Party Name
- Ajitha Joy Homes
- Party Age
- 45
- Relation
- D/o Joseph
Plaintiffs Documents
Demand promissory note for Rs. 5,00,000/-, Letter of continuity, Letter of interest reset agreement for MCLR loans, Term loan agreement with Hypothecation of movables, Letter of undertaking, Letter of composite Debit Balance confirmation, Office copy of the Registered Lawyer notice, Returned postal envelope, Statement of account showing the balance amount due pertaining to the term loan A/C No. 617306170000125 along with certification
Defendants Documents
Advocates
Reliefs
Relief Type:
Money Recovery
Outcome:
Granted
Description:
Realize Rs.6,46,750.57/- from the defendant and from his assets
Evidence:
The plaintiff is entitled to realize Rs.6,46,750.57/- (Rupees six lakhs forty six thousand seven hundred and fifty and five seven paisa only) from the defendant and from his assets
Relief Type:
Interest Recovery
Outcome:
Granted
Description:
Realize interest at different rates per annum from the defendant's assets
Evidence:
The plaintiff is entitled to realize interest @ 12% per annum, 6% per annum for Rs.6,46,750.57/- (Rupees six lakhs forty six thousand seven hundred and fifty and five seven paisa only) from the date of suit till date of decree from the defendant and from his assets
Relief Type:
Costs Recovery
Outcome:
Granted
Description:
Plaintiff entitled to realize costs of the suit from the defendants and their assets
Evidence:
The plaintiff is entitled to realize costs of the suit from the defendants and their assets
Documents & Evidence
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Original demand promissory note dated 01.03.2019
Reference:
Ext.A1
Document Type:
Letter of Continuity
Submitted By:
Plaintiff
Relevance:
Letter of continuity dated 01.03.2019
Reference:
Ext.A2
Document Type:
Letter of interest reset agreement for MCLR loans
Submitted By:
Plaintiff
Relevance:
Letter of interest reset agreement for MCLR loans dated 01.03.2019
Reference:
Ext.A3
Document Type:
Term loan agreement with Hypothecation of movables
Submitted By:
Plaintiff
Relevance:
Term loan agreement with Hypothecation of movables dated 01.03.2019
Reference:
Ext.A4
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Letter of undertaking dated 01.03.2019
Reference:
Ext.A5
Document Type:
Letter of composite Debit Balance confirmation
Submitted By:
Plaintiff
Relevance:
Letter of composite Debit Balance confirmation dated 25.02.2022
Reference:
Ext.A6
Document Type:
Copy of Lawyer's notice
Submitted By:
Plaintiff
Relevance:
Copy of lawyer's notice dated 16.01.2023
Reference:
Ext.A7
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Case Code
Case between Union Bank of India vs Ajitha Joy Homes regarding Suit for realization of money
Case Code Year
Case between Union Bank of India vs Ajitha Joy Homes regarding Suit for realization of money