Case Summary
The plaintiff, Canara Bank, is seeking repayment of a loan given to the defendant, Sulfikar Shafi, for starting a bakery business. The defendant defaulted on repaying the loan, leading the bank to file this suit.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendant is hereby directed to pay the plaintiff bank an amount of Rs. 7,07,710 /- with future interest at 9.95% per annum.
Case Type
Original Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, directing the defendant to pay the outstanding loan amount with interest.
Why Plaintiff Won:
The plaintiff bank proved its case by adducing cogent and reliable evidence.
The plaintiff bank proved its case by adducing cogent and reliable evidence.
Losing Side's Weaknesses:
The plaintiff bank proved its case by adducing cogent and reliable evidence.
The plaintiff bank proved its case by adducing cogent and reliable evidence.
Supporting Evidence
I find no reason to disbelieve the evidence adduced by the plaintiff bank. So, the plaintiff bank has proved his case by adducing cogent and reliable evidence.
Judgment Evidence:
In the result, the suit is decreed as follows: The defendant is hereby directed to pay the plaintiff bank an amount of Rs. 7,07,710 /- (Rupees seven lakh seven thousand seven hundred and ten only) with future interest at 9.95% per annum.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank, By its Manager
- Party Role
- Defendant
- Party Name
- Sulfikar Shafi
- Party Age
- 27
- Relation
- S/o
Plaintiffs Documents
Loan Application dated 26-2-2015, Sanction Memorandum dated 26-2-2015, Agreement cum Deed of Hypothecation dated 26-2-2015, Letter of undertaking re: Loans/Advances dated 26-2-2015, Copy of Lawyer Notice dated 22-1-2018, Copy of Ledger Extract.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Smt.Mercyamma Mathew
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Smt.Sullath Rejula
- Appearance Type
- Assisting Counsel
- Party Role
- Defendant
- Advocate Name
- Sri. Yoonus Ali Chatheri
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Recovery of an amount of Rs. 7,07,710/- from the defendant with interest.
Evidence:
The defendant is hereby directed to pay the plaintiff bank an amount of Rs. 7,07,710 /- (Rupees seven lakh seven thousand seven hundred and ten only) with future interest at 9.95% per annum with monthly rests.
Relief Type:
Other
Outcome:
Granted
Description:
Payment of costs of the suit to the plaintiff.
Evidence:
The defendants shall pay the costs of the suit to the plaintiff.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Executed application for a loan dated 26-02-2015 for financial assistance.
Reference:
Ext.A1
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Document sanctioning the loan facility dated 26-02-2015.
Reference:
Ext.A2
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Deed executed for Rs. 8,55,000/- which hypothicates the purchased machineries.
Reference:
Ext.A3
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Letter regarding loans/advances dated 26-02-2015 executed in favor of the bank.
Reference:
Ext.A4
Document Type:
Copy of Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Registered lawyer notice sent to the defendant on 22-01-2018 for amount due.
Reference:
Ext.A5
Document Type:
Unclaimed Cover
Submitted By:
Plaintiff
Relevance:
Returned notice indicating non-acceptance by the defendant.
Reference:
Ext.A5(a)
Document Type:
Copy of Ledger Extract
Submitted By:
Plaintiff
Relevance:
Certified copy showing the account details and amounts due from the defendant.
Reference:
Ext.A6
Case Classification
Case Type
Original Suit
Category
Money and Loan Recovery
District
Malappuram
State
Kerala
Court Establishment
Munsiff Court, Tirur / Rent Control Court
Common Reasons
Recovery of money
Case Code
Case between Canara Bank, By its Manager vs Sulfikar Shafi regarding realisation of money
Case Code Year
Case between Canara Bank, By its Manager vs Sulfikar Shafi regarding realisation of money