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
The court decreed the suit in favor of the plaintiff, ordering the defendants to pay Rs.7,96,291.80 along with applicable interest and costs of the suit. The defendants are also personally liable to satisfy the decree debt.
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.
Losing Side's Weaknesses:
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.
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.7,96,291.80 with interest from defendants.
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
Parties
- Party Role
- Plaintiff
- Party Name
- Union Bank of India
- Relation
- represented by its present branch Manager and Principal Officer, Vanisree.S.
- Party Role
- Defendant
- Party Name
- M/s. Eeza Trade Impex
- Relation
- represented by its sole proprietor Joseph.P.M.
- Party Role
- Defendant
- Party Name
- Joseph.P.M.
- Party Age
- 48
- Relation
- S/o
Plaintiffs Documents
Application Form for MSEs, Sanction letter, Term Loan Agreement, Demand Promissory Note, Letter of Continuity, Interest Agreement, Letter of undertaking, Debt balance confirmation, Lawyer notice, Statement of Accounts
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Vino Jose
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Adarsh Dharmajan
- Appearance Type
- Main Counsel
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
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