Case Summary
The plaintiff, Union Bank of India, filed a suit against M/s. Eeza Trade Impex and Joseph.P.M. for the recovery of a loan amount of Rs.7,96,291.80 along with interest due to default in repayment. The defendants failed to appear in court and were set exparte.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants ordered to pay Rs.7,96,291.80 along with interest.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff established a case for recovery of the loan amount through unchallenged evidence.
The plaintiff established a case for recovery of the loan amount through unchallenged evidence.
Judgment Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.7,96,291.80 with interest @10.40% along with 2% penal interest per annum from 01.08.2023 till the date of decree and @6% from the date of decree till the date of payment or realization.
Parties Involved
Plaintiffs
Union Bank of India (Age not specified years)
Vyttila Branch, 26/621, Jain Tower, N.H. Byepass, Vyttila, Ernakulam, Pin – 682 019
Defendants
M/s. Eeza Trade Impex (Age not specified years)
KSEB, Employees Union Building No. 40/8207, Near Public Library, Vytila, Ernakulam, Pin – 682 035
Joseph.P.M. (48 years)
Channanathil House, Canal Road, Thykoodam, Vyttila, Ernakulam, Pin – 682 019
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants shall pay Rs.7,96,291.80 with interest to the plaintiff.
Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.7,96,291.80 with interest @10.40% along with 2% penal interest per annum from 01.08.2023 till the date of decree.
Relief Type:
Other
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:
Other
Outcome:
Granted
Description:
Plaintiff is entitled to realize the costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Application Form
Submitted By:
Plaintiff
Relevance:
Submission of the first defendant's application for MSEs to the plaintiff bank.
Reference:
Ext.A1
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Sanction letter issued by the manager of the plaintiff bank, countersigned by the defendant.
Reference:
Ext.A2
Document Type:
Term loan agreement
Submitted By:
Plaintiff
Relevance:
Term loan agreement (hypothecation of movables) executed by the first defendant in favor of the plaintiff bank.
Reference:
Ext.A3
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Demand promissory note executed by the first defendant in favor of the plaintiff bank for the loan amount.
Reference:
Ext.A4
Document Type:
Letter of Continuity
Submitted By:
Plaintiff
Relevance:
Letter of continuity executed by the first defendant in favor of the plaintiff bank.
Reference:
Ext.A5
Document Type:
Interest Agreement
Submitted By:
Plaintiff
Relevance:
Interest agreement executed by the first defendant in favor of the plaintiff bank.
Reference:
Ext.A6
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Letter of undertaking from borrowers executed by the first defendant in favor of the plaintiff bank.
Reference:
Ext.A7
Document Type:
Debt Balance Confirmation
Submitted By:
Plaintiff
Relevance:
Debt balance confirmation executed by the first defendant in favor of the plaintiff bank.
Reference:
Ext.A8
Document Type:
Debt Balance Confirmation
Submitted By:
Plaintiff
Relevance:
Another debt balance confirmation executed by the first defendant in favor of the plaintiff bank.
Reference:
Ext.A9
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Copy of lawyer's notice issued by the plaintiff bank to the defendants.
Reference:
Ext.A10
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Statement of accounts maintained by the plaintiff bank relating to the defendant’s loan account.
Reference:
Ext.A11