Case Summary
Canara Bank has filed a suit against Mr. Prasad.V for the realization of a loan amount due. The defendant defaulted on repayment of a term loan sanctioned for his business.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Plaintiff shall be entitled to realize Rs.7,88,028/- with interest
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff. The defendant is ordered to pay the due amount with interest.
Why Plaintiff Won:
The plaintiff proved their case by unchallenged testimony and supporting documents.
The plaintiff proved their case by unchallenged testimony and supporting documents.
Losing Side's Weaknesses:
The plaintiff proved their case by unchallenged testimony and supporting documents.
The plaintiff proved their case by unchallenged testimony and supporting documents.
Supporting Evidence
The case of the plaintiff is proved by the unchallenged testimony of the PW1 and the documents produced by him.
Judgment Evidence:
In the result, the suit is decreed as follows: 1) The plaintiff shall be entitled to realize Rs.7,88,028/- (Rupees seven lakhs eighty eight thousand and twenty eight only) from the defendant with interest at the rate of 10.65 percent from date of suit till date of decree and with future interest at the rate of 6 per cent from the date of decree till date of realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Party Role
- Defendant
- Party Name
- Mr.Prasad.V
- Party Age
- 34
- Relation
- S/o
Plaintiffs Documents
Loan sanction letter, Loan agreement cum Deed of Hypothecation, Letter of undertaking, Copy of lawyer notice, Postal receipt, Certified copy of the Loan account
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Lissy.V.K
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Abdul Gamal Nazar
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff is entitled to recover the due amount from the defendant.
Evidence:
The suit is decreed as follows: The plaintiff shall be entitled to realize Rs.7,88,028/-...
Relief Type:
Cost
Outcome:
Granted
Description:
The defendant will pay the costs of the proceedings to the plaintiff.
Evidence:
The defendant shall pay costs of the proceedings to the plaintiff.
Documents & Evidence
Document Type:
Loan Sanction Letter
Submitted By:
Plaintiff
Relevance:
Document evidencing the loan sanctioned by the plaintiff bank to the defendant.
Reference:
Ext.A1
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Agreement detailing the terms of the loan and hypothecation of machinery.
Reference:
Ext.A2
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Document outlining the defendant's commitments regarding the loan.
Reference:
Ext.A3
Document Type:
Copy of Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Notice sent to the defendant regarding the default on loan repayment.
Reference:
Ext.A4
Document Type:
Postal receipt
Submitted By:
Plaintiff
Relevance:
Receipt confirming the dispatch of the lawyer's notice to the defendant.
Reference:
Ext.A5
Document Type:
Certified Copy of the Loan Account
Submitted By:
Plaintiff
Relevance:
Official record of the loan account detailing amounts due.
Reference:
Ext.A6
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Munsiff Court 2 Kozhikode
Common Reasons
Recovery of money
Case Code
Case between Canara Bank vs Mr.Prasad.V regarding realization of money
Case Code Year
Case between Canara Bank vs Mr.Prasad.V regarding realization of money