Case Summary
The plaintiff, Union Bank of India, filed a suit against the defendants for recovery of money due from a loan agreement. Defendants failed to appear and were set exparte, leading to a judgment in favor of the plaintiff.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.6,82,183.09 with interest at the specified rates.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
Plaintiff established a case based on unchallenged evidence and documents.
Plaintiff established a case based on unchallenged evidence and documents.
Judgment Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.6,82,183.09/-... 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)
Head Office at Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai; Regional Office at Union Bank Bhavan, II Floor, M.G Road, Ernakulam
Defendants
M/s Studio New Order (Age not specified years)
28/665, Illathumugal Road, Padamugal, Thrikkakara P.O, Ernakulam
Nadeem Salim (22 years)
17B, Skyline Palmtop, Kakkanad, Thrikkakara P.O, Ernakulam
Salim K Aliyar (57 years)
Kadapuram, Nadaackal P.O, Erattupetta, Kottayam
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants shall pay Rs.6,82,183.09 with interest.
Evidence:
Defendants are directed to pay interest at the rate of 8.55% along with 2% penal interest per annum from 23.12.2022 till the date of decree.
Relief Type:
Other
Outcome:
Granted
Description:
Defendants shall be personally and their assets shall also be 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:
Loan Application
Submitted By:
Plaintiff
Relevance:
Loan application form submitted by the 2nd defendant to the plaintiff bank.
Reference:
Ext.A1
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Sanction letter issued by the plaintiff to the 2nd defendant.
Reference:
Ext.A2
Document Type:
Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Hypothecation agreement between the plaintiff and the defendants.
Reference:
Ext.A3
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Letter of undertaking not to alienate hypothecated goods.
Reference:
Ext.A4
Document Type:
Term loan agreement
Submitted By:
Plaintiff
Relevance:
Term loan agreement executed by the 2nd defendant.
Reference:
Ext.A5
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Another letter of undertaking not to alienate hypothecated goods.
Reference:
Ext.A6
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Demand promissory note for Rs.3,64,000.
Reference:
Ext.A7
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Demand promissory note for Rs.2,36,000.
Reference:
Ext.A8
Document Type:
Letter of Continuity
Submitted By:
Plaintiff
Relevance:
Letter of continuity for Rs.3,64,000.
Reference:
Ext.A9
Document Type:
Letter of Continuity
Submitted By:
Plaintiff
Relevance:
Letter of continuity for Rs.2,36,000.
Reference:
Ext.A10
Document Type:
Letter of General Lien and Set Off
Submitted By:
Plaintiff
Relevance:
Letter of general lien executed by 2nd defendant.
Reference:
Ext.A11
Document Type:
Letter of General Lien and Set Off
Submitted By:
Plaintiff
Relevance:
Another letter of general lien executed by 2nd defendant.
Reference:
Ext.A12
Document Type:
Interest Agreement
Submitted By:
Plaintiff
Relevance:
Interest agreement executed by 2nd defendant.
Reference:
Ext.A13
Document Type:
Interest Agreement
Submitted By:
Plaintiff
Relevance:
Another interest agreement executed by 2nd defendant.
Reference:
Ext.A14
Document Type:
Letter of undertaking from borrowers
Submitted By:
Plaintiff
Relevance:
Letter of undertaking from the borrowers executed by the 2nd defendant.
Reference:
Ext.A15
Document Type:
Letter of undertaking from borrowers
Submitted By:
Plaintiff
Relevance:
Another letter of undertaking from the borrowers executed by the 2nd defendant.
Reference:
Ext.A16
Document Type:
Deed of Guarantee
Submitted By:
Plaintiff
Relevance:
Deed of guarantee executed by the 3rd defendant.
Reference:
Ext.A17
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Office copy of lawyer notice of loan account.
Reference:
Ext.A18
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Another office copy of lawyer notice of loan account.
Reference:
Ext.A19
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Statement of account for the period from 04.03.2021 to 16.12.2022.
Reference:
Ext.A20
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Statement of account for another loan for the same period.
Reference:
Ext.A21