Case Summary
The plaintiff, Canara Bank, filed a suit against M/s Muscle Factory Gym and its proprietor for recovery of a loan amount due. The defendants failed to repay the loan despite being served notices and have been classified as a non-performing asset.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants to pay an amount of 9,36,322.78/- with 9% interest per annum from the date of suit till realization.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit, directing the defendants to pay the outstanding loan amount along with interest. The defendants were found liable for the loan amount due to failure to repay and absence in court.
Why Plaintiff Won:
The unchallenged proof affidavit and documentation submitted by the plaintiff satisfactorily proved the plaint claim.
The unchallenged proof affidavit and documentation submitted by the plaintiff satisfactorily proved the plaint claim.
Losing Side's Weaknesses:
The unchallenged proof affidavit and documentation submitted by the plaintiff satisfactorily proved the plaint claim.
The unchallenged proof affidavit and documentation submitted by the plaintiff satisfactorily proved the plaint claim.
Supporting Evidence
The unchallenged proof affidavit and documents would satisfactorily prove the plaint claim. So, a decree can rightly be passed as prayed, except the interest part which is allowed reasonably.
Judgment Evidence:
In the result, The suit is decreed directing the defendants to pay an amount of 9,36,322.78/- (Rupees Nine Lakhs Thirty-Six Thousand Three Hundred and Twenty-Two and Paise Seventy-Eight only), with 9% interest per annum from the date of suit till realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Party Role
- Plaintiff
- Party Name
- Danny Babu
- Party Age
- 32
- Relation
- S/o
- Party Role
- Plaintiff
- Party Name
- Sunil S
- Party Age
- 35
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- M/s Muscle Factory Gym
- Party Role
- Defendant
- Party Name
- Jishnu J
- Party Age
- 29
- Relation
- S/o
Plaintiffs Documents
Original Application for Pradhan Mantri Mudra Yojana loan, Original letter of Sanction, Original letter of undertaking, Original deed of Hypothecation Re-machinery, Original request letter, Original acknowledgment of Debt, Office copy of lawyer notice, Postal receipt of the notice issued to the 1st defendant, Postal receipt of the notice issued to the 2nd defendant, A/d card of the notice issued to the 1st defendant, A/d card of the notice issued to the 2nd defendant, True copy of the account statement
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- P.V.Prakasan
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- A.B.Shrilatha
- Appearance Type
- Assisting Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff requested recovery of the outstanding loan amount.
Evidence:
The suit is decreed directing the defendants to pay an amount of 9,36,322.78/- (Rupees Nine Lakhs Thirty-Six Thousand Three Hundred and Twenty-Two and Paise Seventy-Eight only), with 9% interest per annum from the date of suit till realisation.
Documents & Evidence
Document Type:
Original Application for Pradhan Mantri Mudra Yojana loan
Submitted By:
Plaintiff
Relevance:
Document supporting the loan application by the defendants.
Reference:
Ext.A1
Document Type:
Original letter of sanction
Submitted By:
Plaintiff
Relevance:
Document that provides evidence of the approved loan amount.
Reference:
Ext.A2
Document Type:
Original letter of undertaking
Submitted By:
Plaintiff
Relevance:
Document detailing the terms of the loan agreement.
Reference:
Ext.A3
Document Type:
Original deed of Hypothecation Re-machinery
Submitted By:
Plaintiff
Relevance:
Document that secures the loan against machinery.
Reference:
Ext.A4
Document Type:
Original request letter
Submitted By:
Plaintiff
Relevance:
Document showing the request for disbursal of the loan.
Reference:
Ext.A5
Document Type:
Original request letter
Submitted By:
Plaintiff
Relevance:
Document showing the subsequent request for loan disbursal.
Reference:
Ext.A6
Document Type:
Original acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Document acknowledging the outstanding loan liability.
Reference:
Ext.A7
Document Type:
Office copy of lawyer notice
Submitted By:
Plaintiff
Relevance:
Document evidencing the demand for repayment of the loan.
Reference:
Ext.A8
Document Type:
Postal receipt of the notice issued to the 1st defendant
Submitted By:
Plaintiff
Relevance:
Document confirming the delivery of the notice to the first defendant.
Reference:
Ext.A9(a)
Document Type:
Postal receipt of the notice issued to the 2nd defendant
Submitted By:
Plaintiff
Relevance:
Document confirming the delivery of the notice to the second defendant.
Reference:
Ext.A9(b)
Document Type:
A/d card of the notice issued to the 1st defendant
Submitted By:
Plaintiff
Relevance:
Document verifying acknowledgment of receipt of notice by the first defendant.
Reference:
Ext.A10(a)
Document Type:
A/d card of the notice issued to the 2nd defendant
Submitted By:
Plaintiff
Relevance:
Document verifying acknowledgment of receipt of notice by the second defendant.
Reference:
Ext.A10(b)
Document Type:
True copy of the account statement
Submitted By:
Plaintiff
Relevance:
Document evidencing the outstanding loan amount.
Reference:
Ext.A11
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Non-payment of rent
Case Code
Case between Canara Bank et al vs M/s Muscle Factory Gym et al regarding money recovery
Case Code Year
Case between Canara Bank et al vs M/s Muscle Factory Gym et al regarding money recovery