Case Summary
The plaintiff, Canara Bank, has filed a suit against the defendant, Praveen M.V, for the recovery of an outstanding loan amount. The defendant failed to adhere to the repayment terms and has not made any payment despite multiple demands.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendant is directed to pay to the plaintiff an amount of 9,45,962.76/- with interest.
Case Type
Civil Suit
Final Judgment
No
The court found in favor of the plaintiff, ordering the defendant to pay an outstanding loan amount with interest. The plaintiff is also entitled to recover costs from the defendant.
Why Plaintiff Won:
The court found the plaintiff's case sufficiently proved by uncontested evidence.
The court found the plaintiff's case sufficiently proved by uncontested evidence.
Losing Side's Weaknesses:
The court found the plaintiff's case sufficiently proved by uncontested evidence.
The court found the plaintiff's case sufficiently proved by uncontested evidence.
Supporting Evidence
From the uncontested evidence of PW1, I am of the opinion that the case of the plaintiff stands proved. There is no reason to disbelieve the evidence tendered by PW1.
Judgment Evidence:
In the result, the suit is decreed as follows: The defendant is directed to pay to the plaintiff, an amount of 9,45,962.76/- with interest at the rate of 6% per annum from the date of institution of the suit, till its realisation from the defendant and his assets.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Party Role
- Defendant
- Party Name
- Praveen M.V
- Party Age
- 43
- Relation
- S/o
Plaintiffs Documents
Application For Loan dated 22.08.2016, Sanction Letter dated 05.09.2016, Composite Hypothecation Agreement dated 05.09.2016, Letter of Undertaking dated 05.09.2016, Letter of Undertaking from the Borrower dated 22.09.2016, Acknowledgment of debt and security dated 09.05.2022, Office copy of the Lawyers Notice dated 07.08.2022, Statement of account dated 05.09.20216 to 19.05.2023
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Saira Phiroz
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Shilpoa Sasi
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Susan Kuriakose
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Akhil Poppy S Antony
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendant is directed to pay the plaintiff the outstanding loan amount.
Evidence:
The defendant is directed to pay to the plaintiff, an amount of 9,45,962.76/-(Rupees nine lakhs forty five thousand nine hundred and sixty two and seventy six paise only) with interest at the rate of 6% per annum from the date of institution of the suit, till its realisation from the defendant and his assets.
Relief Type:
Costs
Outcome:
Granted
Description:
The plaintiff is entitled to recover costs from the defendant.
Evidence:
Considering the nature of the suit and circumstances surrounding the suit, the plaintiff is entitled to the costs of the suit from the defendant.
Documents & Evidence
Document Type:
Application for Loan
Submitted By:
Plaintiff
Relevance:
This document was submitted to show the loan application made by the defendant.
Reference:
Ext.A1
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
This document was marked to demonstrate the loan amount sanctioned to the defendant.
Reference:
Ext.A2
Document Type:
Composite Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
This document was relevant for showing the agreement regarding the hypothecation of the vehicle.
Reference:
Ext.A3
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
This letter outlined the terms agreed upon by the defendant for the loan disbursement.
Reference:
Ext.A4
Document Type:
Letter of undertaking from the borrower
Submitted By:
Plaintiff
Relevance:
This document indicated the borrower's compliance with post-release terms.
Reference:
Ext.A5
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
This document was used to acknowledge the debt and security provided by the defendant.
Reference:
Ext.A6
Document Type:
Office copy of the Lawyers Notice
Submitted By:
Plaintiff
Relevance:
This notice was sent to the defendant demanding payment of the loan.
Reference:
Ext.A7
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
This statement showed the outstanding loan amount due from the defendant.
Reference:
Ext.A8
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 Praveen M.V regarding realisation of money
Case Code Year
Case between Canara Bank vs Praveen M.V regarding realisation of money