Case Summary
This case involves Canara Bank seeking to recover a loan amount from M/s Design Tech and its proprietor Mr. Gopi Krishnan P.T. The defendants failed to repay the loan despite executing a loan agreement and acknowledgment of debt.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants to pay Rs.7,31,700 with interest.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit, directing the defendants to pay Canara Bank a total of Rs.7,31,700 with interest. The defendants are liable to repay the loan amount as they failed to do so despite adequate legal procedures.
Why Plaintiff Won:
The unchallenged proof affidavit and documents satisfactorily proved the plaint claim.
The unchallenged proof affidavit and documents satisfactorily proved the plaint claim.
Losing Side's Weaknesses:
The unchallenged proof affidavit and documents satisfactorily proved the plaint claim.
The unchallenged proof affidavit and documents satisfactorily proved the plaint claim.
Supporting Evidence
The unchallenged proof affidavit and documents would satisfactorily prove the plaint claim. So, a decree can rightly be passed as prayed for.
Judgment Evidence:
In the result, the suit is decreed directing the defendants, severally and jointly to pay an amount of Rs.7,31,700/- with 8% interest per annum from the date of suit( ie, from 8.3.2023) till the date of decree.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- M/s Design Tech
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Mr.Gopi Krishnan P.T
- Party Age
- 51
Plaintiffs Documents
Photocopy of Loan Application, Original of Sanction memorandum, Original Agreement cum deed Hypothecation, Original Acknowledgement of Debt and Security, True copy of Statement of account of term loan.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- V.K.Hema
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Arunima N.R
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
A decree directing the defendants to pay Rs.7,31,700/- with interest.
Evidence:
In the result, the suit is decreed directing the defendants, severally and jointly to pay an amount of Rs.7,31,700/- (Rupees seven lakhs thirty one thousand seven hundred only) with 8% interest per annum from the date of suit (ie, from 8.3.2023) till the date of decree.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A1
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A2
Document Type:
Agreement cum deed Hypothication
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A3
Document Type:
Acknowledgement of Debt and Security
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the defendants' acknowledgment of debt.
Reference:
Ext.A4
Document Type:
Statement of account of term loan
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan amount due.
Reference:
Ext.A5
Document Type:
Loan application for OCC
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A6
Document Type:
Loan Sanction memorandum for OCC
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A7
Document Type:
Cash Credit Agreement
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A8
Document Type:
Pro-note
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan amount due.
Reference:
Ext.A9
Document Type:
Letter for undertaking
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A10
Document Type:
Guarantee covering letter
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A11
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A12
Document Type:
Request for Over Draft facilities
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A13
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the defendants' acknowledgment of debt.
Reference:
Ext.A14
Document Type:
Letter of Proprietorship
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A15
Document Type:
Letter of Proprietorship
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A16
Document Type:
Statement of account of OCC
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan amount due.
Reference:
Ext.A17
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Recovery of money
Case Code
Case between Canara Bank vs M/s Design Tech et al regarding recovery of money
Case Code Year
Case between Canara Bank vs M/s Design Tech et al regarding recovery of money