Case Summary
Canara Bank filed a suit against M/S Cut Man Gents Beauty Parlour and its partners for non-repayment of a loan. The court found the defendants liable for the debt after they failed to repay despite multiple requests.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendants are directed to pay an amount of Rs.9,03,834/- with future interest.
Case Type
Civil Suit
Final Judgment
No
The court decreed that the defendants must pay the amount owed to the plaintiff along with interest.
Why Plaintiff Won:
The plaintiff provided sufficient evidence of the loan agreement and the defendants' failure to repay.
The plaintiff provided sufficient evidence of the loan agreement and the defendants' failure to repay.
Losing Side's Weaknesses:
The plaintiff provided sufficient evidence of the loan agreement and the defendants' failure to repay.
The plaintiff provided sufficient evidence of the loan agreement and the defendants' failure to repay.
Supporting Evidence
I find that the plaintiff had proved his case and is entitled to a decree as prayed for.
Judgment Evidence:
In the result, suit is decreed as follows: 1) The defendants are directed to pay an amount of Rs.9,03,834/- (Rupees nine lakhs three thousand eight hundred and thirty four only) with future interest at 12% per annum from the date of suit till the date of decree and with interest @ 6% per annum from the date of decree till its realization to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- represented by its Principal Officer
- Party Role
- Defendant
- Party Name
- M/S Cut Man Gents Beauty Parlour
- Party Role
- Defendant
- Party Name
- Karthik K.P.
- Party Age
- 29
- Relation
- s/o Subramanian
- Party Role
- Defendant
- Party Name
- Nikhil P.
- Party Age
- 30
- Relation
- s/o Santhosh
- Party Role
- Defendant
- Party Name
- Ashith N.K.
- Party Age
- 29
- Relation
- s/o Girijan
Plaintiffs Documents
Loan application executed between defendant and plaintiff, Partnership deed, Agreement cum Deed of Hypothecation, Guarantee agreements, Acknowledgment of Debt and security.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- P.K.Narayanan
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Asokan Pazhur
- Appearance Type
- Assisting Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants directed to pay an amount of Rs.9,03,834/- with interest.
Evidence:
The defendants are directed to pay an amount of Rs.9,03,834/- (Rupees nine lakhs three thousand eight hundred and thirty four only) with future interest at 12% per annum from the date of suit till the date of decree.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff entitled to realize costs of the suit from the defendants.
Evidence:
The plaintiff is also entitled to realize costs of the suit from the defendants.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Document executed between defendant and plaintiff for loan application.
Reference:
Ext.A1
Document Type:
Partnership Deed
Submitted By:
Plaintiff
Relevance:
Photocopy of partnership deed submitted by defendants.
Reference:
Ext.A2
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Executed between defendants and plaintiff detailing hypothecation of loan.
Reference:
Ext.A3
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Executed between defendants and plaintiff as a guarantee for loan.
Reference:
Ext.A4
Document Type:
Guarantee covering letter
Submitted By:
Plaintiff
Relevance:
Cover letter for guarantee agreement submitted by defendants.
Reference:
Ext.A5
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Executed between defendants and plaintiff as guarantee for loan.
Reference:
Ext.A6
Document Type:
Guarantee covering letter
Submitted By:
Plaintiff
Relevance:
Cover letter for guarantee agreement submitted by defendants.
Reference:
Ext.A7
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Executed between defendants and plaintiff as guarantee for loan.
Reference:
Ext.A8
Document Type:
Guarantee covering letter
Submitted By:
Plaintiff
Relevance:
Cover letter for guarantee agreement submitted by defendants.
Reference:
Ext.A9
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Letter where defendants agree to abide by all terms of the loan.
Reference:
Ext.A10
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Memorandum detailing the loan amount sanctioned to the defendants.
Reference:
Ext.A11
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Acknowledgment by defendants regarding the debt incurred.
Reference:
Ext.A12
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Account statement detailing transactions for loan account MSME 0839768000803.
Reference:
Ext.A13
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
True copy of lawyer notice sent to the defendants regarding default.
Reference:
Ext.A14
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 M/S Cut Man Gents Beauty Parlour et al regarding realisation of money
Case Code Year
Case between Canara Bank vs M/S Cut Man Gents Beauty Parlour et al regarding realisation of money