Case Summary
The plaintiff is Canara Bank that sanctioned a business loan of Rs. 7,20,000/- to the defendant. The defendant admitted the liability but contested the interest rate.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff is entitled to recover a sum of Rs. 5,92,046/- and interest at 6% per annum.
Case Type
Civil Suit
Final Judgment
No
The suit is decreed in favor of the plaintiff for a sum of Rs. 5,92,046/- with interest at 6% per annum from the date of suit until realization.
Why Plaintiff Won:
The plaintiff proved the defendant's liability through documentary evidence and the defendant admitted the claim.
The plaintiff proved the defendant's liability through documentary evidence and the defendant admitted the claim.
Losing Side's Weaknesses:
The plaintiff proved the defendant's liability through documentary evidence and the defendant admitted the claim.
The plaintiff proved the defendant's liability through documentary evidence and the defendant admitted the claim.
Supporting Evidence
The evidence on record, both documentary and oral, supports the plaintiff’s claim in full. The defendant’s admission further strengthens the case.
Judgment Evidence:
In the result, the suit is decreed with costs.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Party Role
- Defendant
- Party Name
- Anoop K Sasi
- Party Age
- 40
- Relation
- S/o
Plaintiffs Documents
Loan documents including sanction letter and agreement-cum-deed of hypothecation.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Thomas Mannanal
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- K Sunil Kumar
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff Bank is entitled to recover a sum of Rs. 5,92,046/- from the defendant.
Evidence:
Hence, I hold that the plaintiff has proved that the defendant is liable to pay the sum of 5,92,046/- together with interest at 6% per annum from the date of suit till the date of realization.
Relief Type:
Interest
Outcome:
Granted
Description:
Interest at the rate of 6% per annum from the date of suit till realization.
Evidence:
The plaintiff shall further be entitled to interest at 6% per annum from the date of suit till the date of realization.
Documents & Evidence
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Executed by the defendant to secure the loan of Rs. 7,20,000/-.
Reference:
null
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Documentation relating to the business loan sanctioned to the defendant.
Reference:
null
Document Type:
Certified statement of account
Submitted By:
Plaintiff
Relevance:
Shows the outstanding amount due from the defendant to the bank.
Reference:
null
Document Type:
Oral Evidence
Submitted By:
Unknown
Relevance:
Oral confirmation of the defendant's willingness to repay the borrowed amount.
Reference:
null
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kottayam
State
Kerala
Court Establishment
Munsiff Court, Kottayam
Common Reasons
Case Code
Case between Canara Bank vs Anoop K Sasi regarding realization of money
Case Code Year
Case between Canara Bank vs Anoop K Sasi regarding realization of money