Case Summary
The plaintiff, Canara Bank, is seeking to realize a loan amount from the defendant, Sangeeth Kumar P.S., due to default on payments. The bank sanctioned a loan for the defendant's business, which he failed to repay.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Plaintiff is entitled to realize a sum of Rs.7,92,696.48 along with interest and costs.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff's case was established through unrebutted oral testimony and evidence presented.
The plaintiff's case was established through unrebutted oral testimony and evidence presented.
Judgment Evidence:
In the result, suit is decreed as follows. Plaintiff is entitled to realize a sum of Rs.7,92,696.48 from the defendant and from his assets.
Parties Involved
Plaintiffs
Canara Bank (Age not specified years)
Prartana Building, K.P. Vallon Road, Kadavanthra Road, Kadavanthra P.O., Ernakulam682 020
Defendants
Mr. Sangeeth Kumar P.S. (31 years years)
41/2773 Palakkaparambu House, South Janatha Road, Palarivattom, Ernakulam682 018
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to realize a sum of Rs. 7,92,696.48/- from the defendant.
Evidence:
In the result, suit is decreed as follows. Plaintiff is entitled to realize a sum of Rs.7,92,696.48/- from the defendant and from his assets.
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to realize interest at 12% per annum from the date of suit until the date of decree.
Evidence:
Plaintiff is entitled to realize interest @ 12% per annum for Rs.7,92,696.48/- from the date of suit till date decree from the defendant and from his assets.
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to realize interest at 6% per annum from the date of decree until realization.
Evidence:
Plaintiff is entitled to realize interest @ 6% per annum for Rs.7,92,696.48/- from date of decree till date of realization from the defendant and from his assets.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff is entitled to realize costs of the suit from the defendant.
Evidence:
Plaintiff is entitled to realize costs of the suit from defendant and from his assets.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Original of loan application dated 09.08.2018.
Reference:
Ext.A1
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Original of sanction memorandum sanctioning an amount of Rs. 7,15,000/- to the defendant.
Reference:
Ext.A2
Document Type:
Composite Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Original of composite hypothecation agreement executed by the defendant.
Reference:
Ext.A3
Document Type:
Articles of agreement
Submitted By:
Plaintiff
Relevance:
Original of the articles of agreement executed by the defendant.
Reference:
Ext.A4
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Original of letter of undertaking by all executants.
Reference:
Ext.A5
Document Type:
Letter from Borrower
Submitted By:
Plaintiff
Relevance:
Original of the letter from the borrower.
Reference:
Ext.A6
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Original of the acknowledgment of debt and scrutiny.
Reference:
Ext.A7
Document Type:
Letter for Time Barred Debts
Submitted By:
Plaintiff
Relevance:
Original of letter for time barred debts.
Reference:
Ext.A8
Document Type:
Loan Account Statement
Submitted By:
Plaintiff
Relevance:
Computer printout of loan account statement, though not admitted as evidence.
Reference:
Ext.A9