Case Summary
The plaintiff, Canara Bank, has filed a suit against the defendants, who defaulted on a Pradhan Mantri Mudra Yojana loan. The bank seeks to recover ₹2,32,721/- along with interest due to non-repayment.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Plaintiff is entitled to realize an amount of ₹2,32,721/- with interest @ 10.3% per annum.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, allowing them to recover the loan amount with interest. The defendants did not appear in court to contest the claim.
Why Plaintiff Won:
The claim of the plaintiff to realize the amount from the defendants stands unchallenged and undisputed.
The claim of the plaintiff to realize the amount from the defendants stands unchallenged and undisputed.
Losing Side's Weaknesses:
The claim of the plaintiff to realize the amount from the defendants stands unchallenged and undisputed.
The claim of the plaintiff to realize the amount from the defendants stands unchallenged and undisputed.
Supporting Evidence
The claim of the plaintiff to realize the amount from the defendants stands unchallenged and undisputed.
Judgment Evidence:
In the result, the suit is decreed with costs.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- CANARA BANK, KUTTIADI BRANCH
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- M/S. STAR AQUARIUM
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- SEENA
- Party Age
- 42
- Relation
- D/o
Plaintiffs Documents
Application for Pradhan Manthri Mudra Yojana Loan executed by Seena, Request for overdraft facilities executed by Seena, Cash credit agreement executed by Seena, Pronote executed by Seena, Communication of Repayment Schedule to Borrowers executed by Seena, Sanction letter executed by the Plaintiff Bank and endorsed by the 2nd defendant, Letter of proprietorship executed by Seena, Copy of Registered Loyal Notice issued by Adv. M. Saleem, Postal Receipt, Postal Acknowledgment Card, Computer printout of the statement of Loan Account.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. M. Saleem
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Smt. Dhanya. M.A
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff sought recovery of ₹2,32,721/- from the defendants.
Evidence:
Hence, the suit is decreed with costs as follows: The plaintiff is entitled to realize an amount of . ₹2,32,721/- (Rupees Two Lakhs Thirty Two Thousand Seven Hundred and Twenty One only) with interest @ 10.3% per annum, from the date of suit till the date of realization.
Relief Type:
Other
Outcome:
Partly Granted
Description:
Plaintiff claimed penal interest of 2%.
Evidence:
The claim of penal interest of 2% is denied as it is against RBI Regulations.
Documents & Evidence
Document Type:
Application for Pradhan Manthri Mudra Yojana Loan
Submitted By:
Plaintiff
Relevance:
Executed by Seena as part of the loan application process.
Reference:
Ext.A1
Document Type:
Request for Overdraft Facilities
Submitted By:
Plaintiff
Relevance:
Executed by Seena as part of the loan agreement.
Reference:
Ext.A2
Document Type:
Cash Credit Agreement
Submitted By:
Plaintiff
Relevance:
Executed by Seena detailing the credit terms.
Reference:
Ext.A3
Document Type:
Pronote
Submitted By:
Plaintiff
Relevance:
Executed by Seena as a promise to pay the loan amount.
Reference:
Ext.A4
Document Type:
Communication of Repayment Schedule
Submitted By:
Plaintiff
Relevance:
Executed by Seena providing repayment details.
Reference:
Ext.A5
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Executed by the Plaintiff Bank and endorsed by the 2nd defendant.
Reference:
Ext.A6
Document Type:
Letter of Proprietorship
Submitted By:
Plaintiff
Relevance:
Executed by Seena to establish ownership.
Reference:
Ext.A7
Document Type:
Copy of Registered Loyal Notice
Submitted By:
Plaintiff
Relevance:
Issued by Adv. M. Saleem to notify the defendants.
Reference:
Ext.A8
Document Type:
Postal receipt
Submitted By:
Plaintiff
Relevance:
Related to Ext.A8, providing proof of notice dispatch.
Reference:
Ext.A8(a)
Document Type:
Postal Acknowledgment Card
Submitted By:
Plaintiff
Relevance:
Related to Ext.A8, providing proof of notice receipt.
Reference:
Ext.A9
Document Type:
Computer printout of the statement of Loan Account
Submitted By:
Plaintiff
Relevance:
Showing details of the loan account for claims.
Reference:
Ext.A10
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Munsiff Court, Nadapuram
Common Reasons
Recovery of money
Case Code
Case between CANARA BANK, KUTTIADI BRANCH vs M/S. STAR AQUARIUM et al regarding realization of money.
Case Code Year
Case between CANARA BANK, KUTTIADI BRANCH vs M/S. STAR AQUARIUM et al regarding realization of money.