Case Summary
The plaintiff, Union Bank of India, is seeking to recover an outstanding loan amount from the defendants Midhun Roger Varghese and Marykutty K D. The defendants defaulted on an education loan taken for pursuing a B. Tech course.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.1,51,167.60/- with interest and costs.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff established a case for the recovery of the loan amount based on the evidence and documents provided.
The plaintiff established a case for the recovery of the loan amount based on the evidence and documents provided.
Judgment Evidence:
In the result, suit is decreed as follows: 1) Defendants shall pay Rs.1,51,167.60/- along with interest @ 11.75% per annum from the date of suit till date of decree and interest @ 6% per annum from the date of decree till realization as the case may be, to the plaintiff.
Parties Involved
Plaintiffs
Rasmi S (38 years)
Ernakulam Main Branch, Ground Floor, Union Bank Bhavan, M G Road, Ernakulam, Pin- 682035
Defendants
Midhun Roger Varghese (38 years)
Quarters No A:21, BSNL Staff Quarters, Panambilly Nagar, Ernakulam, Pin:- 682036
Marykutty K D (62 years)
Quarters No. A:21, BSNL Staff Quarters, Panambilly Nagar, Ernakulam, Pin- 682036
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover Rs.1,51,167.60/- with interest from the defendants.
Evidence:
Plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.1,51,167.60/- with interest @11.75% per annum from the date of suit till date of decree.
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants shall be personally liable to satisfy the decree debt.
Evidence:
Defendants shall be personally and their assets shall also be liable to satisfy the decree debt.
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover the costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
This document was part of the evidence showing the loan request by the defendants.
Reference:
Ext.A1
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
This document confirms the sanction of the loan amount of Rs.2,59,000/-.
Reference:
Ext.A2
Document Type:
Educational Loan Agreement
Submitted By:
Plaintiff
Relevance:
This document outlines the terms of the education loan provided to the defendants.
Reference:
Ext.A3
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
This document serves as a formal acknowledgment of the loan amount by the defendants.
Reference:
Ext.A4
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
This document is a commitment from the borrowers for the loan repayment.
Reference:
Ext.A5
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
This document relates to the assignment of future income as security for the loan.
Reference:
Ext.A6
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
This document shows that a legal demand was made to the defendants for repayment.
Reference:
Ext.A7
Document Type:
State of account
Submitted By:
Plaintiff
Relevance:
This document illustrates the payment history of the defendants regarding the loan.
Reference:
Ext.A8