Case Summary
Canara Bank is suing M/s Zigma Cable Vision and its proprietor Shaz for failing to repay a loan of ₹2,00,000. The case involves loan agreements, defaults, and outstanding payments.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants directed to pay ₹7,71,544 with interest and costs of the suit.
Case Type
Civil Suit
Final Judgment
No
The court decreed that the defendants must pay ₹7,71,544 to the plaintiff with specified interest rates. The defendants were held liable for the loan defaults.
Why Plaintiff Won:
The plaintiff established the defendants' default on the loan through evidence.
The plaintiff established the defendants' default on the loan through evidence.
Losing Side's Weaknesses:
The plaintiff established the defendants' default on the loan through evidence.
The plaintiff established the defendants' default on the loan through evidence.
Supporting Evidence
The plaint claim of borrowal of the amount, the default of the payments is proved by the affidavit of PW1 and documents No.A1 to A22.
Judgment Evidence:
In the result, the suit is decreed as follows: 1. The defendants are directed to pay ₹7,71,544 to the plaintiff jointly and severally with an interest at the rate of 7% till the date of decree and thereafter at the rate of 6% per annum till realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- M/s Zigma Cable Vision
- Relation
- Rep by
- Party Role
- Defendant
- Party Name
- Sri. Shanavas. P.V
- Relation
- S/o
Plaintiffs Documents
Application for Loans to Micro and Small Enterprises, Letter of Proprietorship, Request for overdraft facilities, Agreement executed between Plaintiff and Defendant, Pronote, Letter of undertaking, Sanction Letter issued by Plaintiff to Defendant, Acknowledgment of Debt and Security, Letter of Renewal, Sanction letter issued by Plaintiff and Defendant, Loan Application, Supplemental Agreement, Letter of Renewal, Link letter in respect of enhancement of credit, Acknowledgment of debt and security, Sanction Memorandum, Acknowledgment of Debt and Security, Account Statement, Lawyer Notice with postal receipt.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. P.K. Narayanan
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Sri. Asokan Pazhur
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Advocate Saju Philip
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendants are directed to pay 7,71,544/- to the plaintiff joint and severally.
Evidence:
The defendants are directed to pay 7,71,544/- (Rupees Seven Lakhs Seventy One Thousand Five Hundred And Forty Four Only) to the plaintiff jointly and severally with an interest at the rate of 7% till the date of decree and thereafter at the rate of 6% per annum till realization.
Relief Type:
Other
Outcome:
Granted
Description:
The defendant is directed to pay costs of the suit to the plaintiff.
Evidence:
The defendant is also directed to pay jointly and severally the costs of the suit to the plaintiff.
Documents & Evidence
Document Type:
Application for Loans to Micro and Small Enterprises
Submitted By:
Plaintiff
Relevance:
This document was part of the evidence demonstrating the loan application made by the defendants.
Reference:
Ext.A1
Document Type:
Letter of Proprietorship
Submitted By:
Plaintiff
Relevance:
This document establishes the ownership of the defendant's business.
Reference:
Ext.A2
Document Type:
Request for Overdraft Facilities
Submitted By:
Plaintiff
Relevance:
This document indicates the defendants' request for additional financial support.
Reference:
Ext.A3
Document Type:
Agreement executed between plaintiff and defendant
Submitted By:
Plaintiff
Relevance:
This document is critical as it outlines the terms agreed upon between the parties.
Reference:
Ext.A4
Document Type:
Pronote
Submitted By:
Plaintiff
Relevance:
This document serves as a formal acknowledgment of the loan amount borrowed by the defendants.
Reference:
Ext.A5
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
This document confirms the defendants' undertaking regarding loan repayment.
Reference:
Ext.A6
Document Type:
Sanction Letter issued by Plaintiff to Defendant
Submitted By:
Plaintiff
Relevance:
This document represents the formal approval of the loan application by the plaintiff bank.
Reference:
Ext.A7
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
This document acknowledges the debt owed by the defendants to the plaintiff.
Reference:
Ext.A8
Document Type:
Letter of renewal
Submitted By:
Plaintiff
Relevance:
This document indicates the renewal of the loan facility for the defendants.
Reference:
Ext.A9
Document Type:
Sanction letter issued by Plaintiff and Defendant
Submitted By:
Plaintiff
Relevance:
This document shows the mutual agreement on the sanctions related to the loan.
Reference:
Ext.A10
Document Type:
Pronote
Submitted By:
Plaintiff
Relevance:
This document further solidifies the defendants' promise to repay the loan.
Reference:
Ext.A11
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
This document is another instance of the defendants applying for a loan.
Reference:
Ext.A12
Document Type:
Supplemental Agreement
Submitted By:
Plaintiff
Relevance:
This document outlines further agreements regarding loan terms.
Reference:
Ext.A13
Document Type:
Letter of renewal
Submitted By:
Plaintiff
Relevance:
This document indicates the continued financial arrangement between the parties.
Reference:
Ext.A14
Document Type:
Link letter in respect of enhancement of credit
Submitted By:
Plaintiff
Relevance:
This document supports the claim for enhanced credit facilities.
Reference:
Ext.A15
Document Type:
Pronote
Submitted By:
Plaintiff
Relevance:
This document reaffirms the terms of loan repayment by the defendants.
Reference:
Ext.A16
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
This document acknowledges the ongoing debt obligations of the defendants.
Reference:
Ext.A17
Document Type:
Letter of renewal
Submitted By:
Plaintiff
Relevance:
This document further maintains the continuity of the loan agreement.
Reference:
Ext.A18
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
This document details the sanctioning of the loan based on previous agreements.
Reference:
Ext.A19
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
This document serves to acknowledge the ongoing obligations of the defendants.
Reference:
Ext.A20
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
This document provides the financial details of the defendants' loan account.
Reference:
Ext.A21
Document Type:
Lawyer Notice with postal receipt, Acknowledgment card and returned notice
Submitted By:
Plaintiff
Relevance:
This document demonstrates communication to the defendants regarding the suit.
Reference:
Ext.A22
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Munsiff Court 2 Kozhikode
Common Reasons
Recovery of money
Case Code
Case between Canara Bank vs M/s Zigma Cable Vision et al regarding realization of money
Case Code Year
Case between Canara Bank vs M/s Zigma Cable Vision et al regarding realization of money