Case Summary
Canara Bank is suing Haris Valiyavalappil and Fousiya P.K for recovery of a loan amount of Rs. 6,94,531.46. The defendants defaulted on the repayment of the loan sanctioned to Haris Valiyavalappil for his business.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants directed to pay Rs.6,94,531.46 and costs to the plaintiff.
Case Type
Civil Suit
Final Judgment
No
The court decreed that the defendants are jointly and severally liable to pay the plaintiff Rs. 6,94,531.46 with interest. The court also awarded the costs of the suit to the plaintiff.
Why Plaintiff Won:
The plaintiff proved the claim of borrowal of the amount and the default of payments.
The plaintiff proved the claim of borrowal of the amount and the default of payments.
Losing Side's Weaknesses:
The plaintiff proved the claim of borrowal of the amount and the default of payments.
The plaintiff proved the claim of borrowal of the amount and the default of payments.
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 A7.
Judgment Evidence:
In the result, The suit is decreed as follows: 1. The defendants are directed jointly and severally to pay Rs.6,94,531.46/- (Rupees Six Lakhs Ninety-Four Thousand Five Hundred And Thirty-One And Forty-Six Paise Only) 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
- Relation
- Rep. by
- Party Role
- Defendant
- Party Name
- Haris Valiyavalappil
- Party Age
- 65
- Relation
- S/o.
- Party Role
- Defendant
- Party Name
- Fousiya. P.K
- Party Age
- 55
- Relation
- W/o.
Plaintiffs Documents
Letter of sanction, Composite Hypothecation Agreement, Guarantee Agreement, Acknowledgment of debt and security, Copy of account statement, Certificate, Copy of lawyer notice, Acknowledgment Card.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. Nikhil T.M
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Sri. Anaswara. N
- Appearance Type
- Assisting Counsel
- Party Role
- Defendant
- Advocate Name
- Adv. Rajeesh K.
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff to recover Rs.6,94,531.46 from the defendants.
Evidence:
The defendants are directed jointly and severally to pay Rs.6,94,531.46/- to the plaintiff.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff to recover costs of the suit from the defendants.
Evidence:
The defendants are also directed to pay jointly and severally the costs of the suit to the plaintiff.
Documents & Evidence
Document Type:
Letter of Sanction
Submitted By:
Plaintiff
Relevance:
Sanctioned the loan for the first defendant’s business.
Reference:
Ext.A1
Document Type:
Composite Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Executed by the first defendant regarding loan security.
Reference:
Ext.A2
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Executed by the defendants agreeing to repay the loan.
Reference:
Ext.A3
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Acknowledgment by the first defendant of the outstanding dues.
Reference:
Ext.A4
Document Type:
Copy of Account statement
Submitted By:
Plaintiff
Relevance:
Details the outstanding amount as on 31-12-2022.
Reference:
Ext.A5
Document Type:
Certificate
Submitted By:
Plaintiff
Relevance:
Related to the account statement.
Reference:
Ext.A5(a)
Document Type:
Copy of Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Notifies the defendants regarding the payment default.
Reference:
Ext.A6
Document Type:
Postal receipt
Submitted By:
Plaintiff
Relevance:
Proof of dispatch of the lawyer notice.
Reference:
Ext.A6(a)
Document Type:
Acknowledgment card
Submitted By:
Plaintiff
Relevance:
Confirms receipt of the lawyer notice by the defendants.
Reference:
Ext.A7
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, Mavoor Road Branch vs Haris Valiyavalappil et al regarding realisation of money from the defendants.
Case Code Year
Case between Canara Bank, Mavoor Road Branch vs Haris Valiyavalappil et al regarding realisation of money from the defendants.