Case Summary
The plaintiff, Canara Bank, has filed a suit against the defendants, Abubaker P K and Sajitha P A, for the realization of money due under a term loan. The defendants defaulted in repayment, leading to this legal action.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.7,95,419/- along with interest @10% per annum from the date of suit till the date of decree and 6% from the date of decree till payment or realization.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, ordering the defendants to pay the claimed amount along with interest. The defendants are personally liable to satisfy the decree debt.
Why Plaintiff Won:
The plaintiff established a case for recovery of the loan amount due to defaults by defendants.
The plaintiff established a case for recovery of the loan amount due to defaults by defendants.
Losing Side's Weaknesses:
The plaintiff established a case for recovery of the loan amount due to defaults by defendants.
The plaintiff established a case for recovery of the loan amount due to defaults by defendants.
Supporting Evidence
On perusal of the plaint, proof affidavit and documents produced, I am of the view that plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.7,95,419/- with interest from the defendants.
Judgment Evidence:
In the result, suit is decreed as follows: 1) Defendants shall pay Rs.7,95,419/- (Rupees Seven lakhs ninety five thousand four hundred and nineteen only) along with interest @10% per annum from the date of suit till the date of decree...
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- represented by its Chief Manager
- Party Role
- Defendant
- Party Name
- Abubaker P K
- Party Age
- 63
- Relation
- S/o P A Kunjumoidu
- Party Role
- Defendant
- Party Name
- Sajitha P A
- Party Age
- 58
- Relation
- W/o Abubaker P K
Plaintiffs Documents
Loan application dated 25.11.2018, Sanction memorandum dated 01.12.2018, Agreement cum deed of hypothecation dated 01.12.2018, Letter of undertaking dated 01.12.2018, Letter of particulars of stock hypothecated dated 15.12.2018, Acknowledgment of debt dated 20.05.2021, Acknowledgment of debt dated 15.01.2024, Guarantee agreement dated 01.12.2018, Guarantee covering letter dated 01.12.2018, Lawyers notice dated 14.03.2024, Postal receipts dated 14.03.2024, Certified copy of the statement of account.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- V Sunilkumar
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover an amount of Rs.7,95,419/- along with interest from the defendants.
Evidence:
I am of the view that plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.7,95,419/- with interest from the defendants.
Relief Type:
Interest
Outcome:
Granted
Description:
Plaintiff is entitled to interest at the rate of 10% per annum from the date of suit till the date of decree and 6% from the date of decree till payment.
Evidence:
Plaintiff is entitled interest at the rate of 10% per annum from the date of suit till the date of decree, and 6% from the date of decree till payment or realization, as the case may be.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff is entitled to realize the costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
This document shows the application made by the 1st defendant for the loan.
Reference:
Ext.A1
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
This document shows the sanction of the loan to the 1st defendant.
Reference:
Ext.A2
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
This document outlines the terms of the hypothecation executed by the 1st defendant.
Reference:
Ext.A3
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
This document is a letter of undertaking executed by the 1st defendant.
Reference:
Ext.A4
Document Type:
Letter of particulars of stock hypothecated
Submitted By:
Plaintiff
Relevance:
This document details the stock and equipment hypothecated by the 1st defendant.
Reference:
Ext.A5
Document Type:
Letter of acknowledgment of debt
Submitted By:
Plaintiff
Relevance:
This document serves as an acknowledgment of debt executed by the 1st defendant.
Reference:
Ext.A6
Document Type:
Letter of acknowledgment of debt
Submitted By:
Plaintiff
Relevance:
This document is another acknowledgment of debt executed by the 1st defendant.
Reference:
Ext.A7
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
This document outlines the guarantee provided by the 2nd defendant.
Reference:
Ext.A8
Document Type:
Guarantee covering letter
Submitted By:
Plaintiff
Relevance:
This document is a covering letter related to the guarantee provided by the 2nd defendant.
Reference:
Ext.A9
Document Type:
Lawyers notice
Submitted By:
Plaintiff
Relevance:
This document is the notice issued to the defendants demanding repayment.
Reference:
Ext.A10
Document Type:
Postal Receipts
Submitted By:
Plaintiff
Relevance:
These documents serve as proof of receipt of the legal notice sent to the defendants.
Reference:
Ext.A11 and A12
Document Type:
Certified Copy of the Statement of Account
Submitted By:
Plaintiff
Relevance:
This document provides a certified copy of the loan account statement related to the term loan.
Reference:
Ext.A13
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Non-payment of rent
Case Code
Case between Canara Bank vs Abubaker P K et al regarding realization of money
Case Code Year
Case between Canara Bank vs Abubaker P K et al regarding realization of money