Union Bank of India, Mannarkkad Branch, rep by its Branch Manager vs Moosa P M — 500188/2024

Case Summary: Union Bank of India v. Moosa P M (OS 188/2024) The Munsiff-Magistrate's Court decreed Union Bank of India's suit for recovery of Rs. 93,656 from defendant Moosa P M, who defaulted on a Pradhan Mantri Mudra Yojana loan of Rs. 1,00,000 sanctioned in February 2023. The defendant failed to make payments despite demands and legal notice, resulting in NPA classification. Court's Decision: The court awarded the bank principal amount of Rs. 93,656 with interest at 10.80% per annum from suit date until decree, plus future interest at 6% per annum until realization, along with suit costs. The ex parte decree was based on unchallenged documentary evidence showing loan agreement execution and account statements, with the defendant failing to contest the claims. This case analysis is maintained by casestatus.in based on publicly available court records.