Case Summary
The case involves the Union Bank of India as the plaintiff seeking recovery of a loan amount from M/s Zion Centering Works and its proprietor Binoy B Joseph. The defendants defaulted on repayment, leading to the suit for realization of the loan.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants to pay ₹10,00,000 with interest at 6% per annum from the date of decree till realization.
Case Type
Civil Suit
Final Judgment
No
The suit is decreed in favor of the plaintiff, ordering the defendants to pay the claimed amount with interest.
Why Plaintiff Won:
The plaint averments, affidavit, and documents established the case of the plaintiff.
The plaint averments, affidavit, and documents established the case of the plaintiff.
Losing Side's Weaknesses:
Not available
Not available
Supporting Evidence
The plaint averments, affidavit and the documents would establish the case of the plaintiff. There is no evidence to rebut the evidence adduced on the side of the plaintiff.
Judgment Evidence:
In the result, the suit is decreed as follows; It is ordered that the defendants to pay to the plaintiff the sum of 10,00,000/- (Rupees ten lakh only) with interest thereon at the rate of 6% per annum for the principal amount of ₹8,82,000/- (Rupees eight lakh and eighty two thousand only) from the date of decree till its realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Union Bank of India
- Relation
- represented by
- Party Role
- Defendant
- Party Name
- M/s Zion Centering Works
- Party Role
- Defendant
- Party Name
- Binoy B Joseph
- Party Age
- 47
- Relation
- S/o
Plaintiffs Documents
Loan Application, Demand Promissory Note, Letter of continuity, General Term Loan Agreement, Deed of Guarantee, Letter of undertaking not to alienate Hypothecated Goods, Lawyers Notice, Letter of Postal Department, Statement of Accounts
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- R Venugopala Pillai
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants ordered to pay Rs.10,00,000 with interest.
Evidence:
It is ordered that the defendants to pay to the plaintiff the sum of 10,00,000/- (Rupees ten lakh only) with interest thereon at the rate of 6% per annum for the principal amount of Rs.8,82,000/- (Rupees eight lakh and eighty two thousand only).
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff entitled to realise costs from the defendants.
Evidence:
The plaintiff is entitled to realise the costs from the defendants.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Executed by the defendants to avail the loan.
Reference:
Ext.A1
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Executed by the defendants as security for the loan.
Reference:
Ext.A2
Document Type:
Letter of Continuity
Submitted By:
Plaintiff
Relevance:
Related to the terms of the loan agreement.
Reference:
Ext.A3
Document Type:
General term loan agreement
Submitted By:
Plaintiff
Relevance:
Details the conditions under which the loan was granted.
Reference:
Ext.A4
Document Type:
Deed of Guarantee
Submitted By:
Plaintiff
Relevance:
Guarantee provided for the loan repayment.
Reference:
Ext.A5
Document Type:
Letter of Undertaking Not to Alienate Hypothecated Goods
Submitted By:
Plaintiff
Relevance:
Secured the bank's interest in the financed items.
Reference:
Ext.A6
Document Type:
Lawyers notice
Submitted By:
Plaintiff
Relevance:
Notified the defendants of their loan arrears.
Reference:
Ext.A7
Document Type:
Letter of Postal Department
Submitted By:
Plaintiff
Relevance:
Related to communication regarding the loan.
Reference:
Ext.A8
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Provided details of outstanding loan amount.
Reference:
Ext.A9
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kottayam
State
Kerala
Court Establishment
Munsiff Court, Kottayam
Common Reasons
Recovery of money
Case Code
Case between Union Bank of India vs M/s Zion Centering Works et al regarding loan recovery
Case Code Year
Case between Union Bank of India vs M/s Zion Centering Works et al regarding loan recovery