Case Summary
Union Bank of India filed a suit against defendants seeking recovery of a loan amount of Rs.4,10,846/- along with 14% interest per annum. The defendants failed to repay the loan despite multiple reminders and acknowledgments of liability.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Realization of Rs.4,10,846/- with 14% interest per annum and costs of the suit
Case Type
Civil Suit - Money Recovery
Final Judgment
No
Why Plaintiff Won:
The plaintiff proved its case through oral evidence and documents, including the Demand Promissory Note, Hypothecation Agreement, debit balance confirmation, lawyer notice, and statement of accounts.
The plaintiff proved its case through oral evidence and documents, including the Demand Promissory Note, Hypothecation Agreement, debit balance confirmation, lawyer notice, and statement of accounts.
Judgment Evidence:
Therefore, I hold a view that the plaintiff has proved its case by oral evidence of PW1 and documents produced in this case. So, the plaintiff is entitled for a decree as prayed for.
Parties Involved
Plaintiffs
Union Bank of India (Age not specified years)
Registered Office at Mumbai, Branch Tirur
Defendants
V.P. Musthafa (36 years)
Vamparambil House, Karathur Post, Codacal.
Shihab T (32 years)
Thuravayil House, Meenadathur Post, Tirur
Reliefs
Relief Type:
Money Recovery
Outcome:
Granted
Description:
Realization of Rs.4,10,846/- with 14% interest per annum and costs of the suit
Evidence:
The plaintiff proved its case through oral evidence and documents, including the Demand Promissory Note, Hypothecation Agreement, debit balance confirmation, lawyer notice, and statement of accounts.
Documents & Evidence
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Proof of loan execution
Reference:
Ext.A1
Document Type:
Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Collateral agreement for the loan
Reference:
Ext.A2
Document Type:
Debit Balance confirmation
Submitted By:
Plaintiff
Relevance:
Acknowledgement of liability
Reference:
Ext.A3
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Reminder to repay the loan
Reference:
Ext.A4
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Account statement detailing the amount due
Reference:
Ext.A5