Case Summary
Union Bank of India filed a suit against Mr. Antony.N.V. for realization of a term loan amounting to Rs.4,75,148.06. The defendant defaulted on repayment, prompting the bank to seek legal judgment.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant shall pay Rs.4,75,148.06 with interest and costs of the suit.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, ordering the defendant to pay the overdue loan amount along with interest. The defendant's assets are also liable to satisfy the decree debt.
Why Plaintiff Won:
The plaintiff established a case with unchallenged evidence.
The plaintiff established a case with unchallenged evidence.
Losing Side's Weaknesses:
The plaintiff established a case with unchallenged evidence.
The plaintiff established a case with unchallenged evidence.
Supporting Evidence
On perusal of the plaint, proof affidavit and documents produced, I am of the view that plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.4,75,148.06 with interest from defendant.
Judgment Evidence:
In the result, suit is decreed as follows: Defendant shall pay Rs.4,75,148.06 with interest @11.30% per annum from 13.04.2023 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
Parties
- Party Role
- Plaintiff
- Party Name
- Union Bank of India
- Party Role
- Defendant
- Party Name
- Mr. Antony.N.V.
- Party Age
- 47
- Relation
- S/o
Plaintiffs Documents
Loan Application, Sanction Terms and conditions, Demand Promissory Note, Letter of continuity, Term Loan Agreement, Interest Agreement, Letter of undertaking from borrower, Debit Balance Confirmation, Copy of Notice, Recall Notice, Advocate Notice, Statement of account with certificate under banker’s books of evidence act.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Adv. S. Krishnakumar
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff sought the recovery of an outstanding amount of Rs.4,75,148.06 with interest.
Evidence:
Plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.4,75,148.06 with interest from defendant.
Relief Type:
Interest
Outcome:
Granted
Description:
Plaintiff sought interest on the recovered amount.
Evidence:
Defendant shall pay interest at the rate of 11.30% along with interest per annum from 13.04.2023 till the date of decree.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff sought 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:
Document detailing the loan application made by the defendant.
Reference:
Ext.A1
Document Type:
Sanction Terms and Conditions
Submitted By:
Plaintiff
Relevance:
Document containing the terms and conditions for the loan sanctioned to the defendant.
Reference:
Ext.A2
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Document through which the defendant promised to pay back the loan amount.
Reference:
Ext.A3
Document Type:
Letter of Continuity
Submitted By:
Plaintiff
Relevance:
Document confirming the continuity of the loan agreement.
Reference:
Ext.A4
Document Type:
Term loan agreement
Submitted By:
Plaintiff
Relevance:
Document outlining the terms of the term loan taken by the defendant.
Reference:
Ext.A5
Document Type:
Interest Agreement
Submitted By:
Plaintiff
Relevance:
Document detailing the interest agreement related to the loan.
Reference:
Ext.A6
Document Type:
Letter of Undertaking from Borrower
Submitted By:
Plaintiff
Relevance:
Document wherein the borrower undertakes to comply with the terms of the loan.
Reference:
Ext.A7
Document Type:
Debit Balance confirmation
Submitted By:
Plaintiff
Relevance:
Document confirming the outstanding debit balance of the defendant.
Reference:
Ext.A8
Document Type:
Copy of notice
Submitted By:
Plaintiff
Relevance:
Document representing formal notices issued to the defendant regarding the loan.
Reference:
Ext.A9
Document Type:
Copy of notice
Submitted By:
Plaintiff
Relevance:
Duplicate notice issued to the defendant regarding the loan.
Reference:
Ext.A10
Document Type:
Copy of Recall Notice
Submitted By:
Plaintiff
Relevance:
Notice calling upon the defendant to repay the outstanding amount.
Reference:
Ext.A11
Document Type:
Copy of Advocate Notice
Submitted By:
Plaintiff
Relevance:
Legal notice issued to the defendant regarding repayment.
Reference:
Ext.A12
Document Type:
Acknowledgment card
Submitted By:
Plaintiff
Relevance:
Document acknowledging receipt of communications by the defendant.
Reference:
Ext.A13
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Document summarizing the financial transactions and outstanding amounts.
Reference:
Ext.A14
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Recovery of money
Case Code
O.S.NO.
Case Code Year
2023