Case Summary
The case involves Union Bank of India as the plaintiff seeking to recover a loan amount from M/s Sara Opticals, represented by its Proprietor Geevarughese T.G. The defendant defaulted on loan repayments, prompting the bank to file this suit.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff is entitled to realize ₹9,38,105/- and interest at the rate of 9.30% per annum.
Case Type
Civil Suit
Final Judgment
No
The court ruled in favor of the plaintiff, allowing them to recover the outstanding loan amount along with interest.
Why Plaintiff Won:
The plaintiff presented sufficient evidence showing the liability of the defendants towards the plaintiff.
The plaintiff presented sufficient evidence showing the liability of the defendants towards the plaintiff.
Losing Side's Weaknesses:
The plaintiff presented sufficient evidence showing the liability of the defendants towards the plaintiff.
The plaintiff presented sufficient evidence showing the liability of the defendants towards the plaintiff.
Supporting Evidence
These documents are sufficient to show the liability of the defendants towards plaintiff. Defendants could not rebut the evidence produced by the plaintiff.
Judgment Evidence:
In the result, the suit is decreed as follows: The plaintiff is entitled to realize ₹9,38,105/- (Rupees Nine Lakhs Thirty Eight Thousand One Hundred and Five only) as on the date of suit.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Union Bank of India
- Party Role
- Defendant
- Party Name
- M/s Sara Opticals
- Party Age
- 43
- Relation
- S/o
Plaintiffs Documents
Loan application dated 23.03.2023, Sanction advice dated 17/04/2023, Term loan agreement, Interest agreement.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Joy K. George
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- P.A Salim
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff was entitled to recover the outstanding loan amount along with interest.
Evidence:
In the result, the suit is decreed as follows: The plaintiff is entitled to realize ₹9,38,105/- (Rupees Nine Lakhs Thirty Eight Thousand One Hundred and Five only) as on the date of suit.
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff was entitled to recover the costs of the suit from the defendant.
Evidence:
The plaintiff is also entitled to realize the costs of the suit from the defendant and his assets.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Produced as evidence of the loan application made by the defendant.
Reference:
Ext.A1
Document Type:
Credit information
Submitted By:
Plaintiff
Relevance:
Submitted to establish the credit background of the defendant.
Reference:
Ext.A2
Document Type:
Sanction advice
Submitted By:
Plaintiff
Relevance:
Shows the sanctioning of the loan by the plaintiff bank.
Reference:
Ext.A3
Document Type:
Memorandum
Submitted By:
Plaintiff
Relevance:
Related to the sanctioning authority of the loan.
Reference:
Ext.A4
Document Type:
Standard Terms and Conditions
Submitted By:
Plaintiff
Relevance:
Part of the agreement for the loan.
Reference:
Ext.A5
Document Type:
Terms and Conditions of sanction
Submitted By:
Plaintiff
Relevance:
Details the terms under which the loan was issued.
Reference:
Ext.A6
Document Type:
Term Loan agreement (Hypothecation of Movable)
Submitted By:
Plaintiff
Relevance:
Describes the loan and hypothecation of movable assets.
Reference:
Ext.A7
Document Type:
Interest Agreement
Submitted By:
Plaintiff
Relevance:
Specifies the interest terms of the loan.
Reference:
Ext.A8
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Act as a formal promise to pay the loan amount.
Reference:
Ext.A9
Document Type:
Letter of Continuity
Submitted By:
Plaintiff
Relevance:
Defines continuity of the loan terms.
Reference:
Ext.A10
Document Type:
AD-02A
Submitted By:
Plaintiff
Relevance:
Document executed by the defendant regarding the loan.
Reference:
Ext.A11
Document Type:
Letter of Undertaking from Borrower(s)
Submitted By:
Plaintiff
Relevance:
Confirms the borrower's commitments related to the loan.
Reference:
Ext.A12
Document Type:
Letter of Undertaking Not to Alienate Hypothecated Goods
Submitted By:
Plaintiff
Relevance:
Guarantees that the borrower will not alienate secured assets.
Reference:
Ext.A13
Document Type:
Memorandum of deposit of title deeds
Submitted By:
Plaintiff
Relevance:
Establishes the deposit of title deeds as security for the loan.
Reference:
Ext.A14
Document Type:
Partition Deed
Submitted By:
Plaintiff
Relevance:
Document regarding property division, related to loan security.
Reference:
Ext.A15
Document Type:
Rectification Deed
Submitted By:
Plaintiff
Relevance:
Corrects previous records related to asset holdings.
Reference:
Ext.A16
Document Type:
Sale deed
Submitted By:
Plaintiff
Relevance:
Details a sale related to assets securing the loan.
Reference:
Ext.A17
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
Shows the loan balance and payment history.
Reference:
Ext.A18
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kottayam
State
Kerala
Court Establishment
Munsiff Court Kanjirappally
Common Reasons
Non-payment of rent
Case Code
O.S
Case Code Year
2024