Case Summary
Union Bank of India is the plaintiff seeking to recover a loan amount from Vinod.S, the defendant, who has defaulted on repayments. The loan was issued to support the defendant's business, but the account became overdue and was declared a non-performing asset.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Realisation of Rs.4,55,131/- and interest at 9% from the date of the suit till realisation.
Case Type
Civil Suit
Final Judgment
No
The suit is decreed in favor of the plaintiff, allowing Union Bank of India to recover the outstanding loan amount along with interest.
Why Plaintiff Won:
The plaintiff bank provided convincing evidence establishing the defendant's liability and default on repayment.
The plaintiff bank provided convincing evidence establishing the defendant's liability and default on repayment.
Losing Side's Weaknesses:
The plaintiff bank provided convincing evidence establishing the defendant's liability and default on repayment.
The plaintiff bank provided convincing evidence establishing the defendant's liability and default on repayment.
Supporting Evidence
From the unrebutted evidence adduced by plaintiff, I hold that the plaintiff's bank is entitled to the relief as prayed for.
Judgment Evidence:
In the result, the suit is decreed with costs as follows: The plaintiff's bank is allowed to realise the plaint claim of Rs.4,55,131/- (Four Lakh Fifty Five Thousand One Hundred and Thirty One Only) and also to realise 9% interest from the defendant or his assets from the date of the suit ie, 15.01.2024 till realisation.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Union Bank of India
- Party Role
- Defendant
- Party Name
- Vinod.S
- Party Age
- 47
- Relation
- S/o
Plaintiffs Documents
Original of the promissory note for an amount of ₹5,00,000/-, Original Letter of continuity, Original term loan agreement, Original General letter of lien and set off signed by the defendant, Certified copy of statement of loan account No.614306440000041 between the period 17.09.2022 to 29.05.2023.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Boby George Kurian
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff's bank is allowed to realise the plaint claim of Rs.4,55,131/- and also to realise 9% interest from the defendant or his assets from the date of the suit.
Evidence:
The plaintiff's bank is allowed to realise the plaint claim of Rs.4,55,131/- and also to realise 9% interest from the defendant or his assets from the date of the suit ie, 15.01.2024 till realisation.
Documents & Evidence
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
It is the original of the promissory note for an amount of ₹5,00,000/- dated 17.09.2022.
Reference:
Ext.A1
Document Type:
Letter of Continuity
Submitted By:
Plaintiff
Relevance:
It is the original letter of continuity dated 17.09.2022.
Reference:
Ext.A2
Document Type:
Term loan agreement
Submitted By:
Plaintiff
Relevance:
It is the original term loan agreement dated 17.09.2022.
Reference:
Ext.A3
Document Type:
General Letter of Lien and Set-Off
Submitted By:
Plaintiff
Relevance:
It is the original general letter of lien and set-off signed by the defendant dated 17.09.2022.
Reference:
Ext.A4
Document Type:
Statement of Loan Account
Submitted By:
Plaintiff
Relevance:
It is the certified copy of statement of loan account No.614306440000041 between the period 17.09.2022 to 29.05.2023 dated 05.01.2024.
Reference:
Ext.A5
Case Classification
Case Type
Civil Suit
Category
Other Civil Cases
District
Kottayam
State
Kerala
Court Establishment
Munsiff Court Vaikom
Common Reasons
Recovery of money
Case Code
Case between Union Bank of India vs Vinod.S regarding realisation of money.
Case Code Year
Case between Union Bank of India vs Vinod.S regarding realisation of money.