Case Summary
The plaintiff, Canara Bank, has filed a suit against the defendants for realization of a business loan amount due. The defendants failed to repay the loan despite several reminders from the bank.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff is entitled to realize an amount of Rs.9,83,818/- with interest at the rate of 6% per annum.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, allowing them to recover the outstanding loan amount.
Why Plaintiff Won:
The plaintiff succeeded in proving their case with sufficient evidence and the defendants failed to contest the claims.
The plaintiff succeeded in proving their case with sufficient evidence and the defendants failed to contest the claims.
Losing Side's Weaknesses:
The plaintiff succeeded in proving their case with sufficient evidence and the defendants failed to contest the claims.
The plaintiff succeeded in proving their case with sufficient evidence and the defendants failed to contest the claims.
Supporting Evidence
By producing Exts. A1 to A19 and by deposing in tune with the plaint averments in the affidavit, the plaintiff has succeeded in proving her case.
Judgment Evidence:
In the result, the suit is decreed as follows: The plaintiff is entitled to realise an amount of Rs.9,83,818/- (Rupees Nine Lakhs Eighty Three Thousand Eight Hundred and Eighteen Only) with interest at the rate of 6% per annum from the date of suit till the date of realization from the defendants and their assets.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- Rep.by its Manager
- Party Role
- Defendant
- Party Name
- M/s.Kollam Mobiles and Computers
- Relation
- represented by its proprietor
- Party Role
- Defendant
- Party Name
- Muhammed Shafi
- Party Age
- 36
- Relation
- S/o.Hameed kutty
Plaintiffs Documents
Loan application for Credit Facilities to Micro and Small Enterprises, Letter of sanction, Hypothecation agreement, Acknowledgment of debt, Legal notice.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sowfiuar I
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- B.L.Prasanth
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Recovery of an amount of Rs. 9,83,818/- with interest.
Evidence:
Hence, the plaintiff is entitled to the relief as prayed for.
Relief Type:
Costs
Outcome:
Granted
Description:
Recovery of costs of the suit from the defendants.
Evidence:
The plaintiff is entitled to realise costs of the suit from the defendants.
Documents & Evidence
Document Type:
Gazette notification
Submitted By:
Plaintiff
Relevance:
Copy of Gazette notification submitted to support the case.
Reference:
Ext.A1
Document Type:
Loan application for Credit Facilities
Submitted By:
Plaintiff
Relevance:
Loan application submitted to demonstrate the loan granted.
Reference:
Ext.A2
Document Type:
Letter of Sanction
Submitted By:
Plaintiff
Relevance:
Letter providing evidence of the loan sanction date.
Reference:
Ext.A3
Document Type:
Composite Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Agreement establishing hypothecation of assets.
Reference:
Ext.A4
Document Type:
Undertaking Letter
Submitted By:
Plaintiff
Relevance:
Letter detailing undertakings related to the loan.
Reference:
Ext.A5
Document Type:
Stamped receipt
Submitted By:
Plaintiff
Relevance:
Receipt proving the loan amount disbursed.
Reference:
Ext.A6
Document Type:
Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Additional evidence of hypothecation for the loan.
Reference:
Ext.A7
Document Type:
Loan Application Form
Submitted By:
Plaintiff
Relevance:
Form related to a second loan application.
Reference:
Ext.A8
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Memo providing details of the loan sanction for the second loan.
Reference:
Ext.A9
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Agreement for the hypothecation related to the second loan.
Reference:
Ext.A10
Document Type:
Interest letter
Submitted By:
Plaintiff
Relevance:
Letter related to the terms of interest on the loans.
Reference:
Ext.A11
Document Type:
Undertaking Letter
Submitted By:
Plaintiff
Relevance:
Further undertakings related to the second loan.
Reference:
Ext.A12
Document Type:
Letter of Proprietorship
Submitted By:
Plaintiff
Relevance:
Letter verifying the ownership status of the business.
Reference:
Ext.A13
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Document acknowledging the debts by the defendants.
Reference:
Ext.A14
Document Type:
Legal Notice
Submitted By:
Plaintiff
Relevance:
Notice sent to defendants regarding the debt.
Reference:
Ext.A15
Document Type:
Postal Receipts
Submitted By:
Plaintiff
Relevance:
Proof of sending the legal notice.
Reference:
Ext.A16
Document Type:
Returned postal articles
Submitted By:
Plaintiff
Relevance:
Articles returned unserved, indicating non-communication.
Reference:
Ext.A17
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Account statement showing transactions related to the loans.
Reference:
Ext.A18
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Second account statement for verification of the loan details.
Reference:
Ext.A19
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kollam
State
Kerala
Court Establishment
Munsiff Court Kollam
Common Reasons
Recovery of money
Case Code
Case between Canara Bank vs M/s.Kollam Mobiles and Computers et al regarding Suit for realization of money.
Case Code Year
Case between Canara Bank vs M/s.Kollam Mobiles and Computers et al regarding Suit for realization of money.