Case Summary
Canara Bank has filed a suit against M/s. Soorya Associates and its proprietorix, Smt. Surya, for the realization of outstanding loan amounts. The defendants defaulted on loan repayments, leading to this legal action.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Plaintiff is entitled to realize Rs. 4,78,369 from loan account No. 0703261005196 and Rs. 44,440 from loan account No. 181006549007, along with interest.
Case Type
Civil Suit
Final Judgment
No
The court decreed in favor of the plaintiff, allowing Canara Bank to realize the outstanding loan amounts from the defendants. The defendants were found liable for the total due on the loans.
Why Plaintiff Won:
The evidence presented by the plaintiff was uncontroverted, establishing the plaintiff's claim for the outstanding loan amounts.
The evidence presented by the plaintiff was uncontroverted, establishing the plaintiff's claim for the outstanding loan amounts.
Losing Side's Weaknesses:
The evidence presented by the plaintiff was uncontroverted, establishing the plaintiff's claim for the outstanding loan amounts.
The evidence presented by the plaintiff was uncontroverted, establishing the plaintiff's claim for the outstanding loan amounts.
Supporting Evidence
The unrebutted oral testimony of PW1 and Exts. A1 to A12 established his case as pleaded by him. In the absence of any countervailing evidence to contradict this proof of plaint claim, I learn that same remains uncontroverted and accordingly admitted and the plaintiff is entitled to the relief as prayed for.
Judgment Evidence:
In the result, suit is decreed as follows. 1. Plaintiff is entitled to realize Rs. 4,78,369/- from loan account No. 0703261005196 and Rs. 44,440/- from the loan account No. 181006549007, from the defendants and from their assets.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Party Role
- Defendant
- Party Name
- M/s. Soorya Associates
- Relation
- represented by
- Party Role
- Defendant
- Party Name
- Smt. Surya
- Party Age
- 43
- Relation
- W/o Sri. Vinod
Plaintiffs Documents
Original application for loans to micro, small & medium enterprises (MSMEs), loan sanction memorandum, request for overdraft facilities, agreement, acknowledgment of debt and security, and statement of accounts.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Mathew Abraham
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- O.V. Abraham
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- C.P.B. Subramanian
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Rema Menon
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to realize Rs. 4,78,369 from loan account No. 0703261005196.
Evidence:
In the result, suit is decreed as follows. Plaintiff is entitled to realize Rs. 4,78,369 from loan account No. 0703261005196 and Rs.44,440 from the loan account No. 181006549007, from the defendants and from their assets.
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to realize interest @ 12% per annum for Rs. 4,78,369 and 9% interest per annum for Rs. 44,440.
Evidence:
Plaintiff is entitled to realize interest @ 12% per annum for Rs. 4,78,369 and 9% interest per annum for Rs. 44,440 from the date of suit till date decree from the defendants and from their assets.
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to realize interest @ 6% per annum for both Rs. 4,78,369 and Rs. 44,440 from the date of decree till date of realization.
Evidence:
Plaintiff is entitled to realize interest @ 6% per annum for both Rs. 4,78,369 and Rs. 44,440 from the date of decree till date of realization from the defendants and from their assets.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff is entitled to realize costs of the suit from the defendant.
Evidence:
Plaintiff is entitled to realize costs of the suit from defendant and from his assets.
Documents & Evidence
Document Type:
Application for Loan
Submitted By:
Plaintiff
Relevance:
Original of application form for loans to micro and small and medium enterprises (MSMEs) dated 19.03.2021.
Reference:
Ext.A1
Document Type:
Loan Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Original of loan sanction memorandum dated 19.03.2021.
Reference:
Ext.A2
Document Type:
Request for Overdraft Facilities
Submitted By:
Plaintiff
Relevance:
Original of request for overdraft facilities signed by 2nd defendant dated 20.03.2021.
Reference:
Ext.A3
Document Type:
Agreement
Submitted By:
Plaintiff
Relevance:
Original of agreement signed by 2nd defendant dated 20.03.2021.
Reference:
Ext.A4
Document Type:
Pronote
Submitted By:
Plaintiff
Relevance:
Original of pronote signed by 2nd defendant dated 20.03.2021.
Reference:
Ext.A5
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Original acknowledgment of debt and security signed by 2nd defendant dated 02.12.2023.
Reference:
Ext.A6
Document Type:
Common Application
Submitted By:
Plaintiff
Relevance:
Original of common application dated 05.04.2022.
Reference:
Ext.A7
Document Type:
Loan Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Original of sanction memorandum dated 05.04.2022.
Reference:
Ext.A8
Document Type:
Agreement of Hypothecation
Submitted By:
Plaintiff
Relevance:
Original of agreement of hypothecation dated 05.04.2022.
Reference:
Ext.A9
Document Type:
Lawyer's Notice
Submitted By:
Plaintiff
Relevance:
Copy of lawyer's notice dated 19.02.2024.
Reference:
Ext.A10
Document Type:
Postal Receipts
Submitted By:
Plaintiff
Relevance:
Original postal receipts (2 nos.).
Reference:
Ext.A11
Document Type:
Computer Generated Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Computer generated statement of account along with certification dated 02.04.2024.
Reference:
Ext.A12
Document Type:
Oral Evidence
Submitted By:
Unknown
Relevance:
The unrebutted oral testimony of PW1 supported the plaintiff's claims.
Reference:
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. Soorya Associates et al regarding Realization of Money
Case Code Year
Case between Canara Bank vs M/s. Soorya Associates et al regarding Realization of Money