Case Summary
This case involves Union Bank of India filing a suit against Sajeesh Mohan and Pushpa for recovery of loan amount. The defendants defaulted on repayment of a loan taken for expanding a hotel business.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.6,96,706.90/- along with interest at specified rates.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff established the case based on documentary evidence indicating loan sanction and defaults.
The plaintiff established the case based on documentary evidence indicating loan sanction and defaults.
Judgment Evidence:
In the result, suit is decreed as follows: 1) Defendants shall pay Rs.6,96,706.90/- (Rupees Six lakhs ninety six thousand seven hundred six and ninety paise only) along with interest @7.75% per annum from the date of suit till the date of decree and @6% from the date of decree till the date of payment or realization, as the case may be, to plaintiff.
Parties Involved
Plaintiffs
Union Bank of India (Age not specified years)
Palarivattom Branch, Peringattu Building, Civil Lane Road, Palarivattom, Ernakulam - 682 025
Defendants
Sajeesh Mohan (38 years)
Kothethu House, Udayamperoor, Puthiyakavu, Ernakulam - 682 037
Pushpa (64 years)
Kotheth, Malekad, Manakunnam, Udayamperoor P O, Ernakulam - 682 307
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants shall pay Rs.6,96,706.90/- along with interest to the plaintiff.
Evidence:
Defendants shall pay Rs.6,96,706.90/- (Rupees Six lakhs ninety six thousand seven hundred six and ninety paise only) along with interest @7.75% per annum from the date of suit till the date of decree and @6% from the date of decree till the date of payment or realization, as the case may be, to plaintiff.
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 her 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:
Letter of Sanction
Submitted By:
Plaintiff
Relevance:
Shows that on 28.09.2018, the plaintiff bank sanctioned Rs.6,00,000/- to defendant for his business purpose.
Reference:
Ext.A1
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Document dated 28.09.2018 for Rs.6,00,000/- executed by the 1st defendant.
Reference:
Ext.A2
Document Type:
Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Hypothecation agreement of goods and debts dated 28.09.2018.
Reference:
Ext.A3
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Document from borrower dated 28.09.2018.
Reference:
Ext.A4
Document Type:
Interest Agreement
Submitted By:
Plaintiff
Relevance:
Details of the interest on the loan.
Reference:
Ext.A5
Document Type:
Guarantee for Line of Credit and Term Loan
Submitted By:
Plaintiff
Relevance:
Guarantee executed by the 2nd defendant for line of credit and term loan dated 28.09.2018.
Reference:
Ext.A6
Document Type:
Letter of Undertaking from Guarantor
Submitted By:
Plaintiff
Relevance:
Document from guarantor dated 28.09.2018.
Reference:
Ext.A7
Document Type:
Memorandum of deposit of title deeds
Submitted By:
Plaintiff
Relevance:
Document confirming equity mortgage created by the 2nd defendant.
Reference:
Ext.A8
Document Type:
Lawyer's Notice
Submitted By:
Plaintiff
Relevance:
Copy of the notice dated 18.04.2019 demanding repayment.
Reference:
Ext.A9
Document Type:
Acknowledgment Cards
Submitted By:
Plaintiff
Relevance:
Related to the correspondence sent to the defendants.
Reference:
Ext.A10
Document Type:
Copy of Sale Certificate
Submitted By:
Plaintiff
Relevance:
Document confirming sale of the mortgaged property dated 20.10.2023.
Reference:
Ext.A11
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Statement dated 27.08.2024 showing the outstanding balance from the defendants.
Reference:
Ext.A12