Case Summary
M/S Canara Bank filed a suit against Pearly Jerry and Rajesh N. Nair for the realization of loan repayment. The defendants defaulted on their repayment obligations concerning a loan taken for business purposes.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.6,53,348.53/- along with interest @11% per annum from 26.11.2022 till the date of decree and 6% from the date of decree till payment or realization.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of M/S Canara Bank, ordering the defendants to pay the amount due along with applicable interest.
Why Plaintiff Won:
The plaintiff established the case with credible evidence and proved the defendants' default in repayment.
The plaintiff established the case with credible evidence and proved the defendants' default in repayment.
Losing Side's Weaknesses:
The plaintiff established the case with credible evidence and proved the defendants' default in repayment.
The plaintiff established the case with credible evidence and proved the defendants' default in repayment.
Supporting Evidence
On perusal of the plaint, proof affidavit and documents produced, I am of the view that plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.6,53,348.53/- with interest from defendant.
Judgment Evidence:
In the result, suit is decreed as follows: 1) Defendants shall pay Rs.6,53,348.53/- along with interest @11% per annum from 26.11.2022 till the date of decree and 6% from the date of decree till payment or realization, as the case may be, to plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- M/S Canara Bank
- Party Role
- Defendant
- Party Name
- Pearly Jerry
- Party Age
- 58
- Relation
- W/o
- Party Role
- Defendant
- Party Name
- Rajesh.N.Nair
- Party Age
- 42
- Relation
- S/o
Plaintiffs Documents
Hypothecation agreement dated 18.01.2017, Receipt dated 18.01.2017, Guarantee agreement dated 18.01.2017, Statement of account from 01.01.2015 to 16.07.2022, Acknowledgement of debt dated 12.12.2018.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- B. Jayaprakash
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Renju John
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Suja.R.Nair
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Thresia Anu.P.J
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants shall pay Rs.6,53,348.53/- along with interest.
Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.6,53,348.53/- (Rupees Six lakhs fifty three thousand three hundred and forty eight and fifty three paise only) along with interest ...
Relief Type:
Other
Outcome:
Granted
Description:
Defendants shall be personally and their assets shall also be liable to satisfy the decree debt.
Evidence:
Defendants shall be personally and their assets shall also be liable to satisfy the decree debt.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff is also entitled to realize the costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Composite Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Executed by the first defendant in favour of M/S Syndicate Bank.
Reference:
Ext.A1
Document Type:
Receipt
Submitted By:
Plaintiff
Relevance:
Receipt for Rs.5,00,000/- issued by D1 in favour of the plaintiff.
Reference:
Ext.A2
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Guarantee Agreement executed by D2.
Reference:
Ext.A3
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Certified copy of statement of account of defendant’s loan account.
Reference:
Ext.A4
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Acknowledgment of debt executed by D1.
Reference:
Ext.A5
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Acknowledgment of debt and security executed by D1.
Reference:
Ext.A6
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Acknowledgment of debt and security executed by D1.
Reference:
Ext.A7
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Copy of lawyer notice issued to defendants.
Reference:
Ext.A8
Document Type:
Returned Postal cover
Submitted By:
Plaintiff
Relevance:
Returned postal cover of D1.
Reference:
Ext.A9
Document Type:
Returned Postal envelope
Submitted By:
Plaintiff
Relevance:
Returned postal envelope of D2.
Reference:
Ext.A10
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Non-payment of rent
Case Code
Case between M/S Canara Bank vs Pearly Jerry et al regarding realization of money.
Case Code Year
Case between M/S Canara Bank vs Pearly Jerry et al regarding realization of money.