Case Summary
Canara Bank has filed a suit for recovery of money against M/s. Anand Mattress and Pillows due to default on a loan agreement. The defendants failed to repay the sanctioned loan with interest.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendants are directed to pay Rs.4,69,763/- with interest at the rate of 6% per annum.
Case Type
Civil Suit
Final Judgment
No
The court decreed in favor of the plaintiff, ordering the defendants to pay the outstanding loan amount with interest.
Why Plaintiff Won:
The plaint claim of borrowal and default of payment stands proved by the affidavit.
The plaint claim of borrowal and default of payment stands proved by the affidavit.
Losing Side's Weaknesses:
The plaint claim of borrowal and default of payment stands proved by the affidavit.
The plaint claim of borrowal and default of payment stands proved by the affidavit.
Supporting Evidence
The plaint claim of borrowal and default of payment stands proved by the affidavit of PW1 and Exts.A1 to A7 documents with remains unchallenged.
Judgment Evidence:
In the result, the suit is decreed as follows: The defendants are jointly and severally is directed to pay Rs.4,69,763/- to the plaintiff bank with interest at the rate of 6% per annum from the date of the suit till realisation.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Party Role
- Defendant
- Party Name
- M/s. Anand Mattress and Pillows
- Party Role
- Defendant
- Party Name
- Sri.Prabeesh Kumar.K
- Party Age
- 36
- Relation
- S/o
Plaintiffs Documents
Loan application put forward by Plaintiff, Letter of proprietorship, Agreement cum deed of Hypothecation, Letter of undertaking, Sanction memorandum, Statement of account from 02-12-2021 to 02-10-2023, Copy of lawyer notice, Un delivered cover, Postal receipt
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. P.K.Narayanan
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Sri.Asokan Pazhur
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendants are directed to pay Rs.4,69,763/- to the plaintiff bank.
Evidence:
In the result, the suit is decreed as follows: 1. The defendants are jointly and severally is directed to pay Rs.4,69,763/- (Rupees Four Lakhs Sixty Nine Thousand Seven Hundred And Sixty Three Only) to the plaintiff bank with interest at the rate of 6% per annum from the date of the suit till realisation.
Relief Type:
Costs
Outcome:
Granted
Description:
The defendants are directed to pay costs of the suit.
Evidence:
2. The defendants are also directed to pay jointly and severally costs of the suit.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
This document was submitted by the defendants for loan processing.
Reference:
Ext.A1
Document Type:
Letter of Proprietorship
Submitted By:
Plaintiff
Relevance:
This document establishes the ownership of the business by the defendants.
Reference:
Ext.A2
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
This document outlines the agreement between the plaintiff and defendants regarding the loan.
Reference:
Ext.A3
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
This document evidences the defendants' commitment to repay the loan.
Reference:
Ext.A4
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
This document confirms the loan amount sanctioned to the defendants.
Reference:
Ext.A5
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
This document shows the transaction history of the loan issued to the defendants.
Reference:
Ext.A6
Document Type:
Copy of Lawyer Notice
Submitted By:
Plaintiff
Relevance:
This document is a notice sent to the defendants regarding their default.
Reference:
Ext.A7
Document Type:
Un delivered cover
Submitted By:
Plaintiff
Relevance:
This document pertains to the mail sent to the defendants regarding legal communication.
Reference:
Ext.A7(a)
Document Type:
Postal receipt
Submitted By:
Plaintiff
Relevance:
This document serves as proof of sending legal notice to the defendants.
Reference:
Ext.A7(b)
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 M/s. Anand Mattress and Pillows regarding recovery of money
Case Code Year
Case between Canara Bank vs M/s. Anand Mattress and Pillows regarding recovery of money