Case Summary
The plaintiff, Union Bank of India, filed a suit against M/s. Beauty Gold for recovery of a loan amount. The defendants defaulted on repayments, leading to the bank seeking legal recourse.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants to pay Rs.4,39,998/- with interest at 11.05% and Rs.92,568/- with interest at 7.5%.
Case Type
Civil Suit
Final Judgment
No
The court found in favor of the plaintiff and ordered the defendants to repay the outstanding loan amounts with interest.
Why Plaintiff Won:
The defendants failed to repay the agreed loan amounts despite various reminders.
The defendants failed to repay the agreed loan amounts despite various reminders.
Losing Side's Weaknesses:
Not available
Not available
Supporting Evidence
The evidence of PW1, supported by the documentary evidence, stands unchallenged. As such this court finds that the plaintiff has succeeded to prove his case and he is entitled to a decree as prayed for.
Judgment Evidence:
In the result, the suit is decreed as follows: The defendants shall jointly and severally pay an amount of Rs.4,39,998/- (Rupees four lakhs thirty nine thousand nine hundred and ninety eight only) to the plaintiff with interest at the rate of 11.05% per annum from 03.01.2024 till the date of decree in respect of loan bearing No.605406440000061.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Union Bank of India
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- M/s. Beauty Gold
- Party Age
- 37
- Relation
- Proprietor
- Party Role
- Defendant
- Party Name
- Shanid V.
- Party Age
- 37
- Relation
- S/o
Plaintiffs Documents
Loan application for PMRY, Memorandum of loan sanction letter, Demand promissory note, General Term loan agreement, Interest agreement, Letter of Undertaking, Letter of Continuity, Pronote, Composite hypothecation deed, Copy of Statement of Account.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Smt. Smitha Dharmaraj
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Smt. T. Sunitha
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendants shall jointly and severally pay an amount of Rs.4,39,998/- to the plaintiff with interest.
Evidence:
The defendants shall jointly and severally pay an amount of Rs.4,39,998/- (Rupees four lakhs thirty nine thousand nine hundred and ninety eight only) to the plaintiff with interest at the rate of 11.05% per annum from 03.01.2024 till the date of decree.
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendants shall jointly and severally pay an amount of Rs.92,568/- to the plaintiff with interest.
Evidence:
The defendants shall jointly and severally pay an amount of Rs.92,568/- (Rupees ninety two thousand five hundred and sixty eight only) to the plaintiff with interest @ 7.5% per annum from 01.01.2024 till the date of decree.
Relief Type:
Other
Outcome:
Granted
Description:
The plaintiff shall also be entitled to realise the costs of the suit.
Evidence:
The plaintiff shall also be entitled to realise the costs of the suit.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Submitted by Shanid V. to Union Bank of India, West Hill Branch.
Reference:
Ext.A1
Document Type:
Loan Sanction Letter
Submitted By:
Plaintiff
Relevance:
Issued by Union Bank of India, West Hill Branch in favour of Shanid V.
Reference:
Ext.A2
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Issued by Shanid in favour of Union Bank of India, West Hill Branch.
Reference:
Ext.A3
Document Type:
General term loan agreement
Submitted By:
Plaintiff
Relevance:
Executed by Shanid in favour of Union Bank of India, West Hill Branch.
Reference:
Ext.A4
Document Type:
Interest Agreement
Submitted By:
Plaintiff
Relevance:
Executed by Shanid in favour of Union Bank of India, West Hill Branch.
Reference:
Ext.A5
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Executed by Shanid in favour of Union Bank of India, West Hill Branch.
Reference:
Ext.A6
Document Type:
Letter of Continuity
Submitted By:
Plaintiff
Relevance:
Executed by Shanid in favour of Union Bank of India, West Hill Branch.
Reference:
Ext.A7
Document Type:
Pronote
Submitted By:
Plaintiff
Relevance:
Issued by Shanid in favour of Union Bank of India, West Hill Branch.
Reference:
Ext.A8
Document Type:
Composite hypothecation deed
Submitted By:
Plaintiff
Relevance:
Executed by Shanid in favour of Union Bank of India, West Hill Branch.
Reference:
Ext.A9
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Copy of Statement of Account of Shanid issued by Union Bank.
Reference:
Ext.A10
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Copy of another Statement of Account of Shanid issued by Union Bank.
Reference:
Ext.A11
Document Type:
Composite debit balance confirmation
Submitted By:
Plaintiff
Relevance:
Issued by Union Bank in favour of Shanid.
Reference:
Ext.A12
Document Type:
Composite debit balance confirmation
Submitted By:
Plaintiff
Relevance:
Issued by Union Bank in favour of Shanid.
Reference:
Ext.A13
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Issued by Adv. Smitha Dharmaraj to M/s. Beauty Gold and Shanid.
Reference:
Ext.A14
Document Type:
Postal Acknowledgment Card
Submitted By:
Plaintiff
Relevance:
Acknowledgment related to lawyer notice.
Reference:
Ext.A15
Document Type:
Unclaimed postal cover
Submitted By:
Plaintiff
Relevance:
Related to communication with the defendants.
Reference:
Ext.A16
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Munsiff Court 1 Kozhikode
Common Reasons
Non-payment of rent
Case Code
Case between Union Bank of India vs M/s. Beauty Gold regarding Suit for realisation of money.
Case Code Year
Case between Union Bank of India vs M/s. Beauty Gold regarding Suit for realisation of money.