Case Summary
Canara Bank filed a suit against M/s RMN Photography and its proprietor for recovery of a defaulted loan amount. The defendants failed to repay the loan sanctioned under PMMY-MUDRA Loan scheme.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendants are directed to pay an amount of Rs.7,35,045 with future interest at 12% per annum.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, ordering the defendants to pay the outstanding loan amount with interest. The defendants were found to be in default of repayment.
Why Plaintiff Won:
The plaintiff proved their case with sufficient evidence and documentation regarding the loan default.
The plaintiff proved their case with sufficient evidence and documentation regarding the loan default.
Losing Side's Weaknesses:
The plaintiff proved their case with sufficient evidence and documentation regarding the loan default.
The plaintiff proved their case with sufficient evidence and documentation regarding the loan default.
Supporting Evidence
The evidence of PW1 and the documents produced by him remains unchallenged. As such, 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.7,35,045 (Rupees seven lakhs thirty five thousand and forty five 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
- Rep by its Manager Vishnu.M
- Party Role
- Defendant
- Party Name
- M/s RMN Photography
- Relation
- Rep by Proprietor Ranjith, M.M
- Party Role
- Defendant
- Party Name
- Ranjith.M.M
- Party Age
- 36
- Relation
- Proprietor
Plaintiffs Documents
Loan Application, Loan sanction memorandum, Deed of Hypothecation, Agreement cum Deed of Hypothecation, Letter of undertaking, Copy of Rent agreement, Copy of lawyer notice, Returned envelop with Acknowledgment, Account statement up to 23.11.2023.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri.Baija.P
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants are directed to pay an outstanding amount with interest.
Evidence:
The defendants are directed to pay an amount of Rs.7,35,045 (Rupees seven lakhs thirty five thousand and forty five 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.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff is 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:
Submitted to establish the loan application made by the defendants.
Reference:
Ext.A1
Document Type:
Loan Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Provided details of the loan sanctioned to the defendants.
Reference:
Ext.A2
Document Type:
Deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Explained the terms under which the hypothecation was executed.
Reference:
Ext.A3
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Outlined the agreement details related to the hypothecation.
Reference:
Ext.A4
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Included in the documentation to support the loan agreement.
Reference:
Ext.A5
Document Type:
Rent Agreement
Submitted By:
Plaintiff
Relevance:
Demonstrated the defendants' business operations.
Reference:
Ext.A6
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Issued to the defendants regarding repayment of the outstanding loan.
Reference:
Ext.A7
Document Type:
Returned envelope with Acknowledgment
Submitted By:
Plaintiff
Relevance:
Signified the status of the lawyer's notice sent to the defendants.
Reference:
Ext.A8
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
Detailed the outstanding amount owed by the defendants as of the specified date.
Reference:
Ext.A9
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Munsiff Court 2 Kozhikode
Common Reasons
Case Code
Case between Canara Bank vs M/s RMN Photography et al regarding realisation of money.
Case Code Year
Case between Canara Bank vs M/s RMN Photography et al regarding realisation of money.