Case Summary
Union Bank of India filed a suit against Mr. C V Anob Kumar for the recovery of a loan amounting to Rs.4,13,650/- which the defendant failed to repay. The court found in favor of the plaintiff after the defendant did not contest the suit effectively.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant shall pay Rs.4,13,650/- along with interest at 11.5% 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.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
Plaintiff established a case with unchallenged evidence regarding the loan and repayment defaults.
Plaintiff established a case with unchallenged evidence regarding the loan and repayment defaults.
Judgment Evidence:
In the result, suit is decreed as follows: Defendant shall pay Rs.4,13,650/- (Rupees Four lakhs thirteen thousand six hundred and fifty only) along with interest @11.5% 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)
Palarivattom Branch, 32/1289, Peringattu Building, Palarivattom, Kochi- 682025
Defendants
Mr. C V Anob Kumar (Age not specified years)
Ammencherry house, Vennala P.O, Vennala Pin-682028
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendant shall pay Rs.4,13,650/- along with interest.
Evidence:
Defendant is directed to pay interest at the rate of 11.5% per annum from the date of suit till the date of decree.
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendant shall be personally and his 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 also entitled to realize the costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Shows that the defendant availed Rs.6,80,000/- from plaintiff bank.
Reference:
Ext.A1
Document Type:
Letter of Continuity
Submitted By:
Plaintiff
Relevance:
Document establishing the continuity of the loan agreement.
Reference:
Ext.A2
Document Type:
Interest Agreement
Submitted By:
Plaintiff
Relevance:
Document related to the interest terms of the loan.
Reference:
Ext.A3
Document Type:
Term Loan agreement (Hypothecation of Movables)
Submitted By:
Plaintiff
Relevance:
Details the terms of the term loan agreement.
Reference:
Ext.A4
Document Type:
Letter of Undertaking from the Borrowers
Submitted By:
Plaintiff
Relevance:
Undertaking from the borrower regarding the loan.
Reference:
Ext.A5
Document Type:
Composite debit balance confirmation
Submitted By:
Plaintiff
Relevance:
Acknowledgment of debt admitting the liability of the defendant.
Reference:
Ext.A6
Document Type:
Copy of Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Legal notice issued to the defendant regarding the loan default.
Reference:
Ext.A7
Document Type:
Postal acknowledgment for receipt of notice
Submitted By:
Plaintiff
Relevance:
Proof of receipt of the legal notice by the defendant.
Reference:
Ext.A8
Document Type:
Copy of the statement of account
Submitted By:
Plaintiff
Relevance:
Shows the amounts due and the history of the account.
Reference:
Ext.A9