Case Summary
Canara Bank filed a suit against Moideenkutty seeking recovery of a loan amount due for starting a barber shop.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Recovery of loan amount with interest
Case Type
Civil Suit - Money Recovery
Final Judgment
No
The court ordered the defendant to pay the plaintiff bank an amount of Rs. 2,44,349 with future interest at 9% per annum.
Why Plaintiff Won:
The plaintiff bank provided cogent and reliable evidence, and the defendant did not contest the claims.
The plaintiff bank provided cogent and reliable evidence, and the defendant did not contest the claims.
Losing Side's Weaknesses:
The plaintiff bank provided cogent and reliable evidence, and the defendant did not contest the claims.
The plaintiff bank provided cogent and reliable evidence, and the defendant did not contest the claims.
Supporting Evidence
According to PW1 the plaintiff is keeping true and correct accounts with respect to the said transaction in the name of defendant. Ext.A7 is the certified copy of all the computerized ledger accounts. As on 9-4-2014, an amount of Rs.2,24,349/- is due from the defendant, which includes penal interest of Rs. 7,241/.
Judgment Evidence:
The suit is decreed as follows: I. The defendant is hereby directed to pay the plaintiff bank an amount of Rs. 2,44,349 /- (Rupees two lakh forty four thousand three hundred and forty-nine only) with future interest at 9% per annum on Rs.2,37,108/- from the date of suit till the date of realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- Represented by its Manager
- Party Role
- Defendant
- Party Name
- Moideenkutty
- Party Age
- 63
- Relation
- S/o. Mayu
Plaintiffs Documents
Application for Loans to Micro and Small Enterprises, Sanction Memorandum, Agreement cum Deed of Hypothecation, Letter of Undertaking Loan/Advance, Letter in NF 373/1L, Copy of the lawyer notice with acknowledgment card and Postal Receipt, Certified copy of Ledger Extract
Defendants Documents
Not available
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Smt. Mercyamma Mathew
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Smt. Jency Suresh
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Money Recovery
Outcome:
Granted
Description:
Recovery of loan amount with interest
Evidence:
The defendant is directed to pay the plaintiff bank an amount of Rs. 2,44,349 /- with future interest at 9% per annum.
Documents & Evidence
Document Type:
Application for Loans to Micro and Small Enterprises
Submitted By:
Plaintiff
Relevance:
Financial assistance application for the loan for starting a barber shop.
Reference:
A1
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Document showing sanction of the loan facility.
Reference:
A2
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Agreement for hypothecation of furniture and accessories purchased for the barber shop.
Reference:
A3
Document Type:
Letter of Undertaking Loan/Advance
Submitted By:
Plaintiff
Relevance:
Letter of undertaking by the defendant.
Reference:
A4
Document Type:
Certified copy of Ledger Extract
Submitted By:
Plaintiff
Relevance:
Certified copy of computerized ledger accounts showing the due amount.
Reference:
A7
Case Classification
Case Type
Civil Suit - Money Recovery
Category
District
Malappuram
State
Kerala
Court Establishment
Munsiff Court, Tirur / Rent Control Court
Common Reasons
Loan default
Case Code
Case between Canara Bank vs Moideenkutty regarding loan recovery
Case Code Year
Case between Canara Bank vs Moideenkutty regarding loan recovery