Case Summary
Canara Bank filed a suit against M/s M.R.K Agency for the realization of a loan amounting to ₹9,89,111 due to a breach of loan agreement. The defendant defaulted on the loan repayments, claiming business losses due to the COVID-19 pandemic.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff is entitled to realize an amount of ₹9,89,111 with 6% interest from the date of the suit until the date of realization, and the costs of the suit.
Case Type
Civil Suit
Final Judgment
No
The court ruled in favor of Canara Bank, allowing them to recover the amount of ₹9,89,111 with interest from the defendant. The defendant's claims were found to lack sufficient evidence.
Why Plaintiff Won:
The evidence presented by the plaintiff established the defendant's liability to repay the loan.
The evidence presented by the plaintiff established the defendant's liability to repay the loan.
Losing Side's Weaknesses:
The evidence presented by the plaintiff established the defendant's liability to repay the loan.
The evidence presented by the plaintiff established the defendant's liability to repay the loan.
Supporting Evidence
The evidence on record also shows that the defendant is liable to pay this amount. There is nothing on record to indicate that the defendant has discharged her liability to the plaintiff.
Judgment Evidence:
In the result; the suit is decreed as follows: - (a) The plaintiff is entitled to realize an amount of ₹9,89,111/- (Rupees Nine Lakhs Eighty-Nine Thousand One Hundred and Eleven only) with 6% interest from the date of the suit until the date of realization from the defendant and her assets.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- represented by
- Party Role
- Defendant
- Party Name
- M/s M.R.K Agency
- Party Age
- 42
- Relation
- W/o. Rajesh Kumar
Plaintiffs Documents
Loan application No. 4643/2019, Deed of Hypothecation re: machinery, Letter of undertaking regarding loans/advances, Statement of account.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. Prasanth. K
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Sri. G.S. Sanal Kumar
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff is entitled to realize an amount of ₹9,89,111/- with interest from the defendant.
Evidence:
the plaintiff is entitled to realize an amount of ₹9,89,111/- (Rupees Nine Lakhs Eighty-Nine Thousand One Hundred and Eleven only) with 6% interest from the date of the suit until the date of realization from the defendant and her assets.
Relief Type:
Other
Outcome:
Granted
Description:
The plaintiff is entitled to realize the costs of this suit from the defendant.
Evidence:
the plaintiff is also entitled to realize the costs of this suit from the defendant and her assets.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Document evidencing the loan application made by the defendant to the plaintiff.
Reference:
Ext.A1
Document Type:
Deed of Hypothecation re: machinery
Submitted By:
Plaintiff
Relevance:
Document providing security for the loan in the form of hypothecation of machinery.
Reference:
Ext.A2
Document Type:
Letter of undertaking regarding loans/advances
Submitted By:
Plaintiff
Relevance:
Document in which the defendant undertakes to repay the loan.
Reference:
Ext.A3
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Document showing the outstanding amount due from the defendant as of a specific date.
Reference:
Ext.A4
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Thiruvananthapuram
State
Kerala
Court Establishment
Munsiff Court Thiruvananthapuram
Common Reasons
Recovery of money
Case Code
OS.NO.
Case Code Year
2022