Case Summary
Union Bank Of India filed a suit against Haby T S for non-repayment of a loan of Rs. 5,00,000. The defendant defaulted on the loan agreement, leading to the bank seeking recovery of the outstanding amount.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant shall pay Rs.5,20,247.21/- along with interest @8.90% per annum from the date of suit till the date of decree and @6% from the date of decree till the date of payment.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
Plaintiff established a case for recovery based on the loan agreement and the default by the defendant.
Plaintiff established a case for recovery based on the loan agreement and the default by the defendant.
Judgment Evidence:
In the result, suit is decreed as follows: 1) Defendant shall pay Rs.5,20,247.21/- (Rupees Five lakhs twenty thousand two hundred and forty seven and twenty one paise only) along with interest @8.90% per annum from the date of suit till the date of decree and @6% from the date of decree till the date of payment or realization, as the case may be, to plaintiff.
Parties Involved
Plaintiffs
Union Bank Of India (Age not specified years)
Neerpara Branch, Arayankavu, Keechery Village, Kjnayannoor taluk, Kulayettikkara post, Pin- 682317, Ernakulam district
Defendants
Haby T S (37 years)
Thuruthikkattu House, Olamattom, Thodupuzha P O, Thodupuzha Taluk, Idukki, Pin- 685584
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendant is ordered to pay the loan amount along with interest.
Evidence:
Defendant shall pay Rs.5,20,247.21/- (Rupees Five lakhs twenty thousand two hundred and forty seven and twenty one paise only) along with interest @8.90% per annum from the date of suit till the date of decree and @6% from the date of decree till the date of payment or realization, as the case may be, to plaintiff.
Relief Type:
Other
Outcome:
Granted
Description:
Defendant's assets shall also be liable to satisfy the decree debt.
Evidence:
Defendant shall be personally and his assets shall also be liable to satisfy the decree debt.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff is entitled to realize the costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Term Loan agreement (Hypothecation of Movables)
Submitted By:
Plaintiff
Relevance:
Shows that the defendant executed the agreement in favor of the plaintiff on 11.02.2019.
Reference:
Ext.A1
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Executed by the defendant dated 11.02.2019.
Reference:
Ext.A2
Document Type:
Interest Agreement (For MCLR Loans)
Submitted By:
Plaintiff
Relevance:
Details the interest terms agreed upon by the defendant.
Reference:
Ext.A3
Document Type:
AD-02A Letter of Lien and Set Off
Submitted By:
Plaintiff
Relevance:
Executed by the defendant in favor of the plaintiff.
Reference:
Ext.A4
Document Type:
Letter of Continuity
Submitted By:
Plaintiff
Relevance:
Relates to the continuity of the loan agreement.
Reference:
Ext.A5
Document Type:
Letter of Undertaking from Borrower(s)
Submitted By:
Plaintiff
Relevance:
Executed by the defendant.
Reference:
Ext.A6
Document Type:
Copy of Lawyer's notice
Submitted By:
Plaintiff
Relevance:
A notice sent to the defendant regarding the loan default.
Reference:
Ext.A7
Document Type:
Returned Acknowledgment Card
Submitted By:
Plaintiff
Relevance:
Acknowledgment signed by the defendant confirming receipt of the notice.
Reference:
Ext.A8
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Account statement for the plaintiff's records.
Reference:
Ext.A9
Document Type:
Letter of Confirmation (for MCLR Loans)
Submitted By:
Plaintiff
Relevance:
Confirmation related to the loans processed.
Reference:
Ext.A10