Case Summary
The plaintiff, Canara Bank, is seeking repayment of an educational loan given to the defendants, Akshay P and Rajesh. The defendants defaulted on loan repayments and the bank is claiming the outstanding amount with interest.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants are directed to pay Rs.5,45,524/- with interest.
Case Type
Civil Suit
Final Judgment
No
The court decreed in favor of the plaintiff, ordering the defendants to pay the outstanding loan amount along with interest. The defendants are also directed to pay the costs of the suit.
Why Plaintiff Won:
The plaintiff proved the default in loan repayment and the amount due with supporting documents.
The plaintiff proved the default in loan repayment and the amount due with supporting documents.
Losing Side's Weaknesses:
The plaintiff proved the default in loan repayment and the amount due with supporting documents.
The plaintiff proved the default in loan repayment and the amount due with supporting documents.
Supporting Evidence
The plaint claim of borrowal of the amount, the default of the payments is proved by the affidavit of PW1 and documents No.A1 to A8 series.
Judgment Evidence:
The suit is decreed as follows: 1. The defendants are directed to pay Rs.5,45,524/- (Rupees Five Lakhs Forty Five Thousand Five Hundred And Twenty Four Only) jointly and severally to the plaintiff with an interest at the rate of 7% till the date of decree and thereafter at the rate of 6% per annum till realisation.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Party Role
- Defendant
- Party Name
- Akshay P
- Party Age
- 26
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Rajesh
- Party Age
- 49
- Relation
- S/o
Plaintiffs Documents
Loan Application executed by Defendants, Education loan agreement executed by Defendant No.1, Acknowledgment of debt executed by Defendants.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. P.K. Narayanan
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Asokan Pazhur
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- C.P. Abdul Rafeek
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants are directed to pay Rs.5,45,524/- jointly and severally to the plaintiff.
Evidence:
The defendants are directed to pay Rs.5,45,524/- (Rupees Five Lakhs Forty Five Thousand Five Hundred And Twenty Four Only) jointly and severally to the plaintiff with an interest at the rate of 7% till the date of decree and thereafter at the rate of 6% per annum till realisation.
Relief Type:
Cost
Outcome:
Granted
Description:
Defendants are directed to pay costs of the suit.
Evidence:
The defendant are also directed to pay jointly and severally the costs of the suit to the plaintiff.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Executed by Defendants for loan application.
Reference:
Ext.A1
Document Type:
Education Loan Agreement
Submitted By:
Plaintiff
Relevance:
Executed by Defendant No.1 as part of loan agreement.
Reference:
Ext.A2
Document Type:
Agreement
Submitted By:
Plaintiff
Relevance:
Executed by Defendant No.1 related to loan agreement.
Reference:
Ext.A3
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Sanction memorandum executed by Plaintiff for the loan.
Reference:
Ext.A4
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Executed by Defendants acknowledging the debt.
Reference:
Ext.A5
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Executed by Defendant No.1 acknowledging the debt.
Reference:
Ext.A6
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
Shows outstanding balance due as of 17/01/2023.
Reference:
Ext.A7
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
True copy of registered notice sent to the defendants.
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 Canara Bank et al vs Akshay P et al regarding realization of money.
Case Code Year
Case between Canara Bank et al vs Akshay P et al regarding realization of money.