Case Summary
Canara Bank filed a suit against the defendants for the recovery of a loan amount. The case involves the deceased borrower and his legal heirs who are liable for the repayment.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Rs.3,15,938.61/- with interest at the rate of 7% and costs of the suit
Case Type
Civil Suit
Final Judgment
No
The court decreed that the defendants are to pay the outstanding loan amount to the plaintiff along with applicable interest.
Why Plaintiff Won:
The default in repayment and the liability of legal heirs were established by the plaintiff's evidence.
The default in repayment and the liability of legal heirs were established by the plaintiff's evidence.
Losing Side's Weaknesses:
The default in repayment and the liability of legal heirs were established by the plaintiff's evidence.
The default in repayment and the liability of legal heirs were established by the plaintiff's evidence.
Supporting Evidence
The plaint claim of borrowal of the amount and the default of the payments is proved by the affidavit of PW1 and documents No.A1 to A6.
Judgment Evidence:
In the result, The suit is decreed as follows: 1.The defendants are directed to pay Rs.3,15,938.61/- (Rupees Three Lakhs Fifteen Thousand Nine Hundred And Thirty Eight And Sixty One Only) jointly and severally to the plaintiff with an interest at the rate of 7% till the date of decree and thereafter at the rate of 6% per annum till realisation.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank, Kunnamangalam, Branch
- Relation
- Rep. by
- Party Role
- Defendant
- Party Name
- Vinod. P
- Party Age
- 43
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Ambujakshi
- Party Age
- 72
- Relation
- W/o
- Party Role
- Defendant
- Party Name
- Usha. P
- Party Age
- 53
- Relation
- D/o
Plaintiffs Documents
Sanction letter, Agreement for Agricultural Advances, Deed of Guarantee, Articles of Agreement, Acknowledgment of debt.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. Sreehari. P.S.
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- adv. M.G.Asokan
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants directed to pay the outstanding amount to the plaintiff.
Evidence:
The suit is decreed as follows: 1. The defendants are directed to pay Rs.3,15,938.61/- (Rupees Three Lakhs Fifteen Thousand Nine Hundred And Thirty Eight And Sixty One Only) jointly and severally to the plaintiff.
Relief Type:
Interest
Outcome:
Granted
Description:
Plaintiff entitled to interest on the outstanding amount.
Evidence:
Interest at the rate of 7% till the date of decree and thereafter at the rate of 6% per annum till realization.
Relief Type:
Costs
Outcome:
Granted
Description:
Defendants directed to pay costs of the suit to the plaintiff.
Evidence:
The defendants are also directed to pay jointly and severally the costs of the suit to the plaintiff.
Documents & Evidence
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Issued by Syndicate Bank, proves the loan sanctioned to Late Peravakutty.
Reference:
Ext.A1
Document Type:
Agreement for Agricultural Advances
Submitted By:
Plaintiff
Relevance:
Executed by Peravakutty and defendant No.1 for loan terms.
Reference:
Ext.A2
Document Type:
Deed of Guarantee for Agreement Advances
Submitted By:
Plaintiff
Relevance:
Guarantee provided by defendant No.1.
Reference:
Ext.A3
Document Type:
Articles of agreement
Submitted By:
Plaintiff
Relevance:
Executed for restructured loan repayment.
Reference:
Ext.A4
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Acknowledgment issued by Peravakutty and defendant No.1.
Reference:
Ext.A5
Document Type:
Attested copy of Account Statement
Submitted By:
Plaintiff
Relevance:
Shows the outstanding amount as of 04.10.2023.
Reference:
Ext.A6
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 et al vs Vinod. P et al regarding realisation of money
Case Code Year
Case between Canara Bank et al vs Vinod. P et al regarding realisation of money