Case Summary
The plaintiff, Canara Bank, is seeking to recover a loan amount from the defendants, Jasmine.V and Ranjith C.M, who defaulted on repayment. The case revolves around the loan agreement and the defendants' failure to comply with payment terms.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants are directed to pay an amount of Rs.10,36,291.38/- to the plaintiff plus interest and costs.
Case Type
Commercial Suit
Final Judgment
No
The suit is decreed directing the defendants to pay the outstanding loan amount to the plaintiff with interest.
Why Plaintiff Won:
The unchallenged oral testimony and documents presented clearly substantiate the defendants' liability to repay the loan amount.
The unchallenged oral testimony and documents presented clearly substantiate the defendants' liability to repay the loan amount.
Losing Side's Weaknesses:
The unchallenged oral testimony and documents presented clearly substantiate the defendants' liability to repay the loan amount.
The unchallenged oral testimony and documents presented clearly substantiate the defendants' liability to repay the loan amount.
Supporting Evidence
The unchallenged oral testimony of PW1 very well goes to show that the defendants availed loan of Rs.10,00,000/- in the nature of OCC Micro Services scheme Loan from the plaintiff bank and defaulted repayment of the said amount.
Judgment Evidence:
In the result, the suit is decreed as follows:- The defendants are directed to pay an amount of Rs.10,36,291.38/- (Rupees ten lakh thirty six thousand two hundred and ninety one and thirty eight paise only) to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank, Thondayad Branch
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Jasmine.V
- Party Age
- 37
- Relation
- W/o
- Party Role
- Defendant
- Party Name
- Ranjith C.M
- Party Age
- 37
- Relation
- S/o
Plaintiffs Documents
Loan Sanction Memorandum, Loan Agreement, Letter of Acknowledgment, Statement of Account, Lawyer Notice.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. Nikhil.T.M
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Anaswara.N
- Appearance Type
- Assisting Counsel
- Party Role
- Defendant
- Advocate Name
- Sri. T.V. Pradeep Kumar
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is granted recovery of outstanding loan amount from the defendants.
Evidence:
Accordingly, the suit is liable to be decreed directing the defendants to pay the outstanding amount.
Relief Type:
Interest
Outcome:
Granted
Description:
Plaintiff is entitled to interest on the loan amount.
Evidence:
The plaintiff will be entitled for an interest at the rate of 6% per annum from the date of the suit till realisation of the decree.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff is entitled to costs of the suit.
Evidence:
The plaintiff will be entitled for costs of the suit.
Documents & Evidence
Document Type:
Loan Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
This document evidences the sanction of the loan amount of Rs.10,00,000/- to the first defendant.
Reference:
Ext.A1
Document Type:
Loan Agreement
Submitted By:
Plaintiff
Relevance:
This document outlines the terms and conditions agreed upon by the defendants for the loan.
Reference:
Ext.A2
Document Type:
Letter of Acknowledgment
Submitted By:
Plaintiff
Relevance:
This document confirms the second defendant's acknowledgment of the loan repayment obligation.
Reference:
Ext.A3
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
This document provides details of the loan account, showing the outstanding amount due.
Reference:
Ext.A4
Document Type:
Copy of Lawyer Notice
Submitted By:
Plaintiff
Relevance:
This document is a notice sent to the defendants demanding repayment of the loan amount.
Reference:
Ext.A5
Document Type:
Returned lawyer notice
Submitted By:
Plaintiff
Relevance:
This document indicates that the lawyer's notice was not delivered to the first defendant.
Reference:
Ext.A6
Document Type:
Acknowledgment card
Submitted By:
Plaintiff
Relevance:
This document serves as evidence of receipt of the lawyer notice by the second defendant.
Reference:
Ext.A7
Case Classification
Case Type
Commercial Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Commercial Court Kozhikode
Common Reasons
Non-payment of rent
Case Code
Case between Canara Bank, Thondayad Branch vs Jasmine.V et al regarding realisation of loan amount
Case Code Year
Case between Canara Bank, Thondayad Branch vs Jasmine.V et al regarding realisation of loan amount