Case Summary
Canara Bank filed a suit against M/s VIBGYOR for the realization of an outstanding loan amount of Rs. 3,42,954/-. The defendant did not respond to the court proceedings, resulting in an ex parte decision.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant shall pay an amount of Rs. 3,42,954/- with future interest at the rate of 12.20% per annum.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, ordering the defendant to pay an amount of Rs. 3,42,954/- along with future interest.
Why Plaintiff Won:
Plaintiff's unchallenged evidence proves its case.
Plaintiff's unchallenged evidence proves its case.
Losing Side's Weaknesses:
Plaintiff's unchallenged evidence proves its case.
Plaintiff's unchallenged evidence proves its case.
Supporting Evidence
Considering the facts and circumstances of the case, I am of the view that the plaintiff is entitled to realise the amount from the defendant with future interest.
Judgment Evidence:
In the result, the suit is decreed with costs and defendants shall pay an amount of Rs. Rs.3,42,954/- (Rupees Three lakhs Forty Two thousand Nine hundred and Fifty Four only) to the plaintiff with future interest at the rate of 12.20% per annum for the principal amount from the date of suit till date of realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Party Role
- Defendant
- Party Name
- M/s VIBGYOR
- Party Age
- 44
- Relation
- S/o
Plaintiffs Documents
Original Loan Application, Composite Hypothecation Agreement, Copy of Statement of Account with Certificate.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. K. Prasanth
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Amount of Rs.3,42,954/- to be paid to the plaintiff with future interest.
Evidence:
the suit is decreed with costs and defendants shall pay an amount of Rs. Rs.3,42,954/- (Rupees Three lakhs Forty Two thousand Nine hundred and Fifty Four only) to the plaintiff with future interest at the rate of 12.20% per annum for the principal amount from the date of suit till date of realization.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Original loan application dated 26.10.2015 showing the request for the loan.
Reference:
Ext.A1
Document Type:
Composite Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Agreement executed by the defendant agreeing to repay the loan amount with interest.
Reference:
Ext.A2
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Copy of the statement of account dated 10.02.2023 showing the outstanding amount.
Reference:
Ext.A3
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Thiruvananthapuram
State
Kerala
Court Establishment
Munsiff Court Thiruvananthapuram
Common Reasons
Non-payment of Loan
Case Code
OS.NO.
Case Code Year
2023