Case Summary
Canara Bank has filed a suit against M/s M.S Electricals for the recovery of loan amounts due to breach of loan agreements. The defendant has not responded to the summons and the case has proceeded ex parte.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff is entitled to recover an amount of ₹8,70,558/- along with 6% interest from the date of the suit until realization.
Case Type
Civil Suit
Final Judgment
No
The court has decreed in favor of the plaintiff, allowing them to recover the outstanding loan amount from the defendant.
Why Plaintiff Won:
The plaintiff provided sufficient evidence of the defendant's outstanding loan balance.
The plaintiff provided sufficient evidence of the defendant's outstanding loan balance.
Losing Side's Weaknesses:
The plaintiff provided sufficient evidence of the defendant's outstanding loan balance.
The plaintiff provided sufficient evidence of the defendant's outstanding loan balance.
Supporting Evidence
The oral and documentary evidence adduced by PW1 proves that an amount of ₹8,70,558/- (Rupees eight lakhs seventy thousand five hundred and fifty-eight only) is due from the defendant.
Judgment Evidence:
In the result; the suit is decreed as follows: (a)The plaintiff is entitled to recover an amount of ₹8,70,558/- (Rupees Eight Lakhs Seventy Thousand Five Hundred and Fifty-Eight only) with 6% interest from the date of the suit until the date of realization from the defendant and his assets.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Party Role
- Defendant
- Party Name
- M/s M.S Electricals
Plaintiffs Documents
Loan application forms, letters of undertaking, cash credit agreements, pronotes, and bank statements.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. Sunil Aaluvilaagom
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover an amount of ₹8,70,558/- with 6% interest from the date of the suit until realization from the defendant and his assets.
Evidence:
In the result; the suit is decreed as follows: (a) The plaintiff is entitled to recover an amount of ₹8,70,558/- (Rupees Eight Lakhs Seventy Thousand Five Hundred and Fifty-Eight only) with 6% interest from the date of the suit until the date of realization from the defendant and his assets.
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is also entitled to recover the costs of this suit from the defendant and his assets.
Evidence:
In the result; the suit is decreed as follows: (b) The plaintiff is also entitled to recover the costs of this suit from the defendant and his assets.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Original Loan Application form for loans to Micro Small and Medium Enterprises (MSMEs) dated 25/10/2021 signed by the defendant
Reference:
Ext.A1
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Original letter of undertaking regarding loans/advances signed by the defendant
Reference:
Ext.A2
Document Type:
Delivery Letter
Submitted By:
Plaintiff
Relevance:
Original take delivery letter to DPN dated 25/10/2021
Reference:
Ext.A3
Document Type:
Cash Credit Agreement
Submitted By:
Plaintiff
Relevance:
Original cash credit agreement dated 25/10/2021 signed by the defendant
Reference:
Ext.A4
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
The pronote dated 25/10/2021 signed by the defendant
Reference:
Ext.A5
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Original second loan application dated 04/07/2020 signed by the defendant
Reference:
Ext.A6
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Original letter of undertaking regarding loans/advances signed by the defendant dated 04/07/2020
Reference:
Ext.A7
Document Type:
Agreement-cum-Deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Original agreement-cum-deed of hypothecation executed by the defendant in favour of the plaintiff bank on 04/07/2020
Reference:
Ext.A8
Document Type:
Delivery Letter
Submitted By:
Plaintiff
Relevance:
Original take delivery letter to DPN dated 04/07/2020
Reference:
Ext.A9
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
The original pronote dated 04/07/2020 signed by the defendant
Reference:
Ext.A10
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Original third loan application dated 25/11/2021
Reference:
Ext.A11
Document Type:
Undertaking Letter
Submitted By:
Plaintiff
Relevance:
Original undertaking letter from the borrowers dated 25/11/2021
Reference:
Ext.A12
Document Type:
Agreement-cum-Deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Original agreement-cum-deed of hypothecation dated 25/11/2021
Reference:
Ext.A13
Document Type:
Delivery Letter
Submitted By:
Plaintiff
Relevance:
Original take delivery letter to DPN dated 25/11/2021
Reference:
Ext.A14
Document Type:
Legal Notice
Submitted By:
Plaintiff
Relevance:
Legal notice dated 04/03/2024 issued to the defendant
Reference:
Ext.A15
Document Type:
Bank statement
Submitted By:
Plaintiff
Relevance:
Bank statement of the loan account of the defendant, certified under the Bankers’ Books Evidence Act, for the period from 18/03/2022 to 17/03/2023
Reference:
Ext.A16
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
2024