Case Summary
Union Bank of India filed a suit against M. Sreevidhya for the realization of loan amounts totaling Rs.8,98,000 due to the plaintiff's claims of fraud involving spurious gold pledged by the defendant. The court examined the evidence and testimonies regarding the loans and the fraudulent activities.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant is directed to pay an amount of Rs.8,98,000/- to the plaintiff.
Case Type
Commercial Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, directing the defendant to pay an amount of Rs.8,98,000 along with interest. The plaintiff's claim of fraudulent activity was found to be substantiated.
Why Plaintiff Won:
The unchallenged testimony and evidence demonstrated that the defendant committed fraud by pledging spurious gold as security for loans.
The unchallenged testimony and evidence demonstrated that the defendant committed fraud by pledging spurious gold as security for loans.
Losing Side's Weaknesses:
The unchallenged testimony and evidence demonstrated that the defendant committed fraud by pledging spurious gold as security for loans.
The unchallenged testimony and evidence demonstrated that the defendant committed fraud by pledging spurious gold as security for loans.
Supporting Evidence
The unchallenged oral testimony of PW1 coupled with documents Exts. A1 to A9 very well shows that the defendants failed to repay the outstanding amount with interest to plaintiff.
Judgment Evidence:
In the result, the suit is decreed as follows: 1.Defendant is directed to pay an amount of Rs.8,98,000/- (Rupees eight lakh ninety eight thousand only) to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Union Bank of India
- Party Role
- Defendant
- Party Name
- M. Sreevidhya
- Party Age
- 45
- Relation
- W/o
Plaintiffs Documents
Ext. A1 (Letter from Regional Head showing spurious gold), Ext. A2 (Complaint to Police), Ext. A3 (Copy of FIR), Ext. A4 (Seizure Mahazer), Ext. A5 (Seizure Mahazer), Ext. A6 (Statement of account for Rs.4,20,000), Ext. A7 (Statement of account for Rs.4,78,000), Ext. A8 (Application for Rs.4,20,000), Ext. A9 (Application for Rs.4,78,000)
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. M. Sanjeevan
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Sri. Mintoob Chand.K
- Appearance Type
- Assisting Counsel
- Party Role
- Defendant
- Advocate Name
- Sri. Sanal Kumar Padannapurath
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendant is directed to pay an amount of Rs.8,98,000/- to the plaintiff.
Evidence:
Accordingly, the suit is liable to be decreed directing the defendant to pay the outstanding amount.
Relief Type:
Interest
Outcome:
Granted
Description:
Plaintiff will be entitled for interest at the rate of 6% per annum from the date of the suit till realization of the decree.
Evidence:
The plaintiff will be entitled for interest at the rate of 6% per annum from the date of the suit till realisation of the decree.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff will be entitled for costs of the suit.
Evidence:
The plaintiff will be entitled for costs of the suit.
Documents & Evidence
Document Type:
Letter from Regional Head
Submitted By:
Plaintiff
Relevance:
Shows spurious gold found during internal audit.
Reference:
Ext.A1
Document Type:
Complaint
Submitted By:
Plaintiff
Relevance:
Complaint given by the Regional Head to the police.
Reference:
Ext.A2
Document Type:
Photo Copy of FIR
Submitted By:
Plaintiff
Relevance:
Certified copy of the FIR submitted to the magistrate.
Reference:
Ext.A3
Document Type:
Seizure Mahazer
Submitted By:
Plaintiff
Relevance:
Issued showing seizure of the pledged ornaments.
Reference:
Ext.A4
Document Type:
Seizure Mahazer
Submitted By:
Plaintiff
Relevance:
Issued showing seizure of documents by the police.
Reference:
Ext.A5
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Original statement of account for the loan for Rs.4,20,000/-.
Reference:
Ext.A6
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Original statement of account for the loan for Rs.4,78,000/-.
Reference:
Ext.A7
Document Type:
Common Application – cum-jewel loan pledge
Submitted By:
Plaintiff
Relevance:
Certified copy regarding the gold loan for Rs.4,20,000/-.
Reference:
Ext.A8
Document Type:
Common Application – cum-jewel loan pledge
Submitted By:
Plaintiff
Relevance:
Certified copy regarding the gold loan for Rs.4,78,000/-.
Reference:
Ext.A9
Case Classification
Case Type
Commercial Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Commercial Court Kozhikode
Common Reasons
Fraud
Case Code
Case between Union Bank of India vs M. Sreevidhya regarding realization of loan amount.
Case Code Year
Case between Union Bank of India vs M. Sreevidhya regarding realization of loan amount.
Case Flags
Arrest Involved