Case Summary
The case involves Union Bank of India as the plaintiff against Mr. Laiju.M.P for the realization of a loan amount. The defendant defaulted on a loan of Rs.10,00,000 taken from the bank.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant is directed to pay an amount of Rs.10,90,588.74 and interest.
Case Type
Commercial Suit
Final Judgment
No
The suit is decreed, directing the defendant to pay Rs.10,90,588.74 to the plaintiff with interest.
Why Plaintiff Won:
The plaintiff provided unchallenged testimony and evidence showing the defendant's failure to repay the loan.
The plaintiff provided unchallenged testimony and evidence showing the defendant's failure to repay the loan.
Losing Side's Weaknesses:
The plaintiff provided unchallenged testimony and evidence showing the defendant's failure to repay the loan.
The plaintiff provided unchallenged testimony and evidence showing the defendant's failure to repay the loan.
Supporting Evidence
The unchallenged oral testimony of PW1 coupled with documents Exts. A1 to A9 very well shows that the defendant 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.10,90,588.74/- (Rupees ten lakh ninety thousand five hundred eighty eight and seventy four paise only) to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Union Bank of India
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Mr. Laiju.M.P
- Party Age
- 60
- Relation
- S/o
Plaintiffs Documents
Demand Promissory Note, Hypothecation Agreement, Letter of undertaking, Letter of Continuity, Simple Agreement, Interest Agreement, Lawyers notice, Non starter report, True Extract of statement of account
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Smt. Usha. M.E
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Smt. Suma. P.T
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendant is directed to pay the outstanding amount to the plaintiff.
Evidence:
Accordingly, the suit is decreed as follows: Defendant is directed to pay an amount of Rs.10,90,588.74/-.
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 realisation 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:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Executed by the defendant as part of the loan agreement.
Reference:
Ext.A1
Document Type:
Hypothecation agreement of goods and debts
Submitted By:
Plaintiff
Relevance:
Executed by the defendant securing collateral for the loan.
Reference:
Ext.A2
Document Type:
Letter of Undertaking Not to Alienate Hypothecated Goods
Submitted By:
Plaintiff
Relevance:
Executed by the defendant as part of the loan conditions.
Reference:
Ext.A3
Document Type:
Letter of Continuity
Submitted By:
Plaintiff
Relevance:
Executed by the defendant reaffirming the loan terms.
Reference:
Ext.A4
Document Type:
Simple Agreement
Submitted By:
Plaintiff
Relevance:
Outlines the basic terms of the loan agreement.
Reference:
Ext.A5
Document Type:
Interest Agreement
Submitted By:
Plaintiff
Relevance:
Details the interest rate applicable to the loan.
Reference:
Ext.A6
Document Type:
Lawyers notice
Submitted By:
Plaintiff
Relevance:
Notified the defendant about the loan default.
Reference:
Ext.A7
Document Type:
Non starter report of District legal service authority
Submitted By:
Plaintiff
Relevance:
Indicates the failed mediation attempt.
Reference:
Ext.A8
Document Type:
True extract of statement of account
Submitted By:
Plaintiff
Relevance:
Shows the outstanding dues of the defendant.
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
Non-payment of Loan
Case Code
Case between Union Bank of India vs Mr. Laiju.M.P regarding loan default
Case Code Year
Case between Union Bank of India vs Mr. Laiju.M.P regarding loan default