Case Summary
The case involves Canara Bank seeking repayment from Mr. Muhammed Sahid, the proprietor of M/s Nano Bakes and Cakes, for a loan that was defaulted. The bank alleges that the defendant failed to comply with the repayment terms.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendant is directed to pay 6,43,154/- to the plaintiff with an interest at the rate of 7% till the date of decree and thereafter at the rate of 6% per annum till realization.
Case Type
Civil Suit
Final Judgment
No
The court decreed that the defendant must pay Canara Bank a total of 6,43,154/- with specific interest rates until realization. The defendant is also directed to pay the costs of the suit.
Why Plaintiff Won:
The plaintiff proved the default of payments and entitlement to relief.
The plaintiff proved the default of payments and entitlement to relief.
Losing Side's Weaknesses:
The plaintiff proved the default of payments and entitlement to relief.
The plaintiff proved the default of payments and entitlement to relief.
Supporting Evidence
The plaint claim of borrowal of the amount, the default of the payments is proved by the affidavit of PW1 and documents No.A1 to A11.
Judgment Evidence:
In the result, the suit is decreed as follows: 1. The defendant is directed to pay 6,43,154/- (Rupees Six Lakhs Forty Three Thousand One Hundred And Fifty Four Only) to the plaintiff with an interest at the rate of 7% till the date of decree and thereafter at the rate of 6% per annum till realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Party Role
- Defendant
- Party Name
- Mr. Muhammed Sahid. N.V
- Party Age
- 39
- Relation
- S/o
Plaintiffs Documents
Sanction Memorandum, Agreement cum Deed of Hypothecation, Letter of undertaking, Cash credit Agreement, Demand Promissory Note, Acknowledgment of Debt and Security, Copy of Lawyer Notice, Termloan Account statement with certification, Cash Credit Loan Account Statement with certification.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Smt. Lissy. K. K.
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendant is directed to pay a total amount of 6,43,154/- to the plaintiff.
Evidence:
The defendant is directed to pay 6,43,154/- (Rupees Six Lakhs Forty Three Thousand One Hundred And Fifty Four Only) to the plaintiff with an interest at the rate of 7% till the date of decree and thereafter at the rate of 6% per annum till realization.
Relief Type:
Cost
Outcome:
Granted
Description:
The defendant is directed to pay the costs of the suit to the plaintiff.
Evidence:
The defendant is also directed to pay the costs of the suit to the plaintiff.
Documents & Evidence
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Document evidencing the sanction of the term loan.
Reference:
Ext.A1
Document Type:
Agreement cum Deed of Hypothication
Submitted By:
Plaintiff
Relevance:
Agreement providing security for the term loan granted.
Reference:
Ext.A2
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Letter affirming the terms of the loan.
Reference:
Ext.A3
Document Type:
Cash Credit Agreement
Submitted By:
Plaintiff
Relevance:
Agreement related to the cash credit facility sanctioned.
Reference:
Ext.A4
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Promissory note affirming the obligation to repay the cash credit.
Reference:
Ext.A5
Document Type:
Request for Overdraft Facilities
Submitted By:
Plaintiff
Relevance:
Request related to additional borrowing requirements.
Reference:
Ext.A6
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Acknowledge of the debt regarding the loan.
Reference:
Ext.A7
Document Type:
Copy of Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Legal notice issued to the defendant regarding the default.
Reference:
Ext.A8
Document Type:
Termloan Account statement with certification
Submitted By:
Plaintiff
Relevance:
Statement of the account detailing the loan and payments.
Reference:
Ext.A10
Document Type:
Cash Credit Loan Account Statement with certification
Submitted By:
Plaintiff
Relevance:
Account statement for the cash credit facility.
Reference:
Ext.A11
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Munsiff Court 2 Kozhikode
Common Reasons
Non-payment of rent
Case Code
Case between Canara Bank vs Mr. Muhammed Sahid. N.V regarding realization of money.
Case Code Year
Case between Canara Bank vs Mr. Muhammed Sahid. N.V regarding realization of money.