Case Summary
This suit is filed by Canara Bank for the realisation of money due on an education loan availed by the defendants. The defendants defaulted on the loan repayment despite reminders from the bank.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff is entitled to realise an amount of Rs.4,26,397/- with interest at the rate of 10.65% per annum compounded monthly.
Case Type
Civil Suit
Final Judgment
No
The court ruled in favor of Canara Bank, allowing the suit for the recovery of the loan amount along with interest.
Why Plaintiff Won:
The plaintiff proved the loan agreement and default by the defendants.
The plaintiff proved the loan agreement and default by the defendants.
Losing Side's Weaknesses:
The plaintiff proved the loan agreement and default by the defendants.
The plaintiff proved the loan agreement and default by the defendants.
Supporting Evidence
The deposition of PW1 coupled with Ext. A1 to A5 documents would prove the plaint claim. There is no evidence adduced by the defendants to prove otherwise.
Judgment Evidence:
In the result, the suit is decreed with costs as follows: The plaintiff is entitled to realise an amount of Rs.4,26,397/- (Rupees Four Lakh Twenty Six Thousand Three Hundred and Ninety Seven only) with interest at the rate of of 10.65% per annum compounded monthly rests from the date of suit and at the rate of 6% per annum from the date of decree till realisation with costs, from the defendants and their assets.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Tossy Cyril
- Party Role
- Defendant
- Party Name
- Cyril.V.H
- Party Role
- Defendant
- Party Name
- Suma Joy
- Relation
- W/o Joy Kutty
Plaintiffs Documents
Sanction Memorandum, Loan Agreement, Advocate Notice, Acknowledgment Cards, Statement of accounts.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Thayyil B.K.Jayamohan
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- L.S.Sunil
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- V.L.Baby
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to realize an amount of Rs. 4,26,397/- from the defendants.
Evidence:
the plaintiff is entitled to realize an amount of Rs. 4,26,397/- (Rupees Four Lakh Twenty Six Thousand Three Hundred and Ninety Seven only) with interest at the rate of 10.65% per annum compounded monthly rests from the date of suit till realization
Documents & Evidence
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Proves that the defendants applied for and were sanctioned an education loan.
Reference:
Ext.A1
Document Type:
Loan Agreement
Submitted By:
Plaintiff
Relevance:
Details the terms of the loan that the defendants agreed to.
Reference:
Ext.A2
Document Type:
Advocate Notice
Submitted By:
Plaintiff
Relevance:
Used to demonstrate that the plaintiff notified the defendants about the outstanding dues.
Reference:
Ext.A3
Document Type:
Acknowledgment Cards
Submitted By:
Plaintiff
Relevance:
Confirms that the defendants acknowledged receipt of the notices.
Reference:
Ext.A4
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Shows the outstanding balance due from the defendants.
Reference:
Ext.A5
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kollam
State
Kerala
Court Establishment
Munsiff Court Kollam
Common Reasons
Non-payment of rent
Case Code
Case between Canara Bank et al vs Tossy Cyril et al regarding Realisation of Money
Case Code Year
Case between Canara Bank et al vs Tossy Cyril et al regarding Realisation of Money