Case Summary
The plaintiff, Canara Bank, is seeking recovery of outstanding loan amounts from the defendant, Nithunraj. The case arises from the defendant's failure to repay loans sanctioned for his business.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendant shall pay Rs.5,89,156.24/- and Rs.3,51,404.65/- with interest to the plaintiff.
Case Type
Civil Suit
Final Judgment
No
The court decreed that the defendant is liable to pay the outstanding loan amounts to the plaintiff with interest.
Why Plaintiff Won:
The plaintiff proved the case with documentary evidence and the defendant failed to appear in court.
The plaintiff proved the case with documentary evidence and the defendant failed to appear in court.
Losing Side's Weaknesses:
The plaintiff proved the case with documentary evidence and the defendant failed to appear in court.
The plaintiff proved the case with documentary evidence and the defendant failed to appear in court.
Supporting Evidence
The evidence of PW1, supported by the documentary evidence, stands unchallenged. As such this court finds that the plaintiff has succeeded to prove his case.
Judgment Evidence:
In the result, the suit is decreed as follows: A) The defendant shall pay Rs.5,89,156.24/- to the plaintiff with interest at the rate of 9.55% per annum from 31.08.2024 till the date of decree. B) The defendant shall pay Rs.3,51,404.65/- to the plaintiff with interest at the rate of 10.35% per annum from 16.09.2024 till the date of decree.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Nithunraj
- Party Age
- 34
- Relation
- S/o
Plaintiffs Documents
Sanction letter, loan agreement, various statements of account.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. Nikhil T.M.
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Smt. Anaswara N.
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendant is ordered to pay the outstanding amounts due to the plaintiff.
Evidence:
The suit is decreed as follows: A) The defendant shall pay Rs.5,89,156.24/- to the plaintiff with interest at the rate of 9.55% per annum from 31.08.2024 till the date of decree.
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendant is ordered to pay another outstanding amount due to the plaintiff.
Evidence:
B) The defendant shall pay Rs.3,51,404.65/- to the plaintiff with interest at the rate of 10.35% per annum from 16.09.2024 till the date of decree.
Relief Type:
Recovery
Outcome:
Granted
Description:
Future interest on the awarded amounts.
Evidence:
C) The defendant shall also pay future interest at the rate of 6% p.a for the above said amount from the date of decree till realisation.
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff entitled to costs of the suit.
Evidence:
D) The plaintiff shall also be entitled to realise the costs of the suit.
Documents & Evidence
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
The sanction letter issued by Canara Bank to M/S. Coaster Mens Collection evidences the loan amounts sanctioned.
Reference:
Ext.A1
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
This document indicates the hypothecation of assets to secure the loan taken by the defendant.
Reference:
Ext.A2
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
The letter of undertaking executed by the defendant shows the consent regarding the loan terms.
Reference:
Ext.A3
Document Type:
Loan Agreement
Submitted By:
Plaintiff
Relevance:
The loan agreement details the repayment terms agreed by the defendant with the bank.
Reference:
Ext.A4
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
This document provides evidence of the outstanding balance due from the defendant.
Reference:
Ext.A5
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Another statement reflecting the defendant's account and balance.
Reference:
Ext.A6
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
The lawyer notice sent to the defendant is used to substantiate the demands for repayment.
Reference:
Ext.A7 Series
Document Type:
Unclaimed postal cover
Submitted By:
Unknown
Relevance:
This is mentioned but does not specifically tie into any claims.
Reference:
Ext.A8
Case Classification
Case Type
Civil Suit
Category
Other Civil Cases
District
Kozhikode
State
Kerala
Court Establishment
Munsiff Court 1 Kozhikode
Common Reasons
Recovery of money
Case Code
Case between Canara Bank et al vs Nithunraj regarding recovery of loan amount
Case Code Year
Case between Canara Bank et al vs Nithunraj regarding recovery of loan amount