Case Summary
The plaintiff, Union Bank of India, has filed a suit against the defendants, M/s. Diamond 24x7 and its proprietor, for the realization of a cash credit facility amounting to Rs. 4,50,000. The defendants defaulted on the repayment despite several demands, leading to this litigation.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant is directed to pay Rs.4,66,148.23 with interest and costs.
Case Type
Civil Suit
Final Judgment
No
The court directed the defendants to pay Rs.4,66,148.23 to the plaintiff, along with interest and costs of the proceedings.
Why Plaintiff Won:
The plaintiff provided unchallenged evidence of the defendant's failure to repay the loan.
The plaintiff provided unchallenged evidence of the defendant's failure to repay the loan.
Losing Side's Weaknesses:
The plaintiff provided unchallenged evidence of the defendant's failure to repay the loan.
The plaintiff provided unchallenged evidence of the defendant's failure to repay the loan.
Supporting Evidence
The case of the plaintiff is proved by the unchallenged oral testimony of the PW1 and the exhibits A1 to A8 documents produced by him.
Judgment Evidence:
In the result, 1. The defendant is hereby directed to pay Rs.4,66,148.23 to the plaintiff with interest at the rate of 9 per cent from date of suit till date of decree and with future interest at the rate of 6 per cent from the date of decree till date of realization. 2. The defendants shall pay costs of the proceedings to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Union Bank of India
- Relation
- Rep by
- Party Role
- Defendant
- Party Name
- M/s. Diamond 24x7
- Party Role
- Defendant
- Party Name
- Salih Theruvoth Ahammed Unni
- Party Age
- 45
- Relation
- S/o
Plaintiffs Documents
Demand Promissory Note executed by the defendant, Hypothecation Agreement executed by the defendant, Letter of undertaking not to alienate Hypothecated goods, Recall notice, Acknowledgement Card.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri.K.S.Rajagopal
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- P. R. Rajesh
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendant directed to pay the principal amount with interest.
Evidence:
The defendant is hereby directed to pay Rs.4,66,148.23/- (Rupees four lakhs sixty six thousand one hundred and forty eight and twenty three paise only) to the plaintiff with interest at the rate of 9 percent from date of suit till date of decree and with future interest at the rate of 6 percent from the date of decree till date of realization.
Relief Type:
Costs
Outcome:
Granted
Description:
Defendants ordered to pay costs of the proceedings to the plaintiff.
Evidence:
The defendants shall pay costs of the proceedings to the plaintiff.
Documents & Evidence
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Executed by the defendant as a formal agreement to repay the loan.
Reference:
Ext.A1
Document Type:
Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Executed by the defendant to secure the loan with hypothecated goods.
Reference:
Ext.A2
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Agreement by the defendant not to alienate hypothecated goods.
Reference:
Ext.A3
Document Type:
Recall Notice
Submitted By:
Plaintiff
Relevance:
Issued by the plaintiff to inform the defendant of the loan default.
Reference:
Ext.A4
Document Type:
Acknowledgement Card
Submitted By:
Plaintiff
Relevance:
Acknowledgement of receipt of the notice by the defendant.
Reference:
Ext.A5
Document Type:
Unclaimed Cover
Submitted By:
Plaintiff
Relevance:
Returned notice indicating non-receipt by the defendant.
Reference:
Ext.A6
Document Type:
Certified copy of statement of account
Submitted By:
Plaintiff
Relevance:
Shows the account activities during the specified period.
Reference:
Ext.A7
Document Type:
Certified copy of statement of account
Submitted By:
Plaintiff
Relevance:
Shows subsequent account activities following the initial statement.
Reference:
Ext.A8
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Munsiff Court 2 Kozhikode
Common Reasons
Non-payment of rent
Case Code
Case between Union Bank of India vs M/s. Diamond 24x7 regarding realization of money.
Case Code Year
Case between Union Bank of India vs M/s. Diamond 24x7 regarding realization of money.