Case Summary
The plaintiff, Canara Bank, seeks to recover a loan amount from the defendant, Femi Sunil, who failed to repay a term loan for the purchase of a vehicle. The defendant was irregular in making repayments despite numerous demands from the bank.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff is entitled to realize an amount of Rs. 6,59,683 with interest.
Case Type
Civil Suit
Final Judgment
No
The suit is decreed in favor of the plaintiff, allowing them to recover the loan amount with interest. The defendant is held responsible for the default in repayment.
Why Plaintiff Won:
It is evident that the defendant committed default in repaying the loan amount as agreed in the loan agreement.
It is evident that the defendant committed default in repaying the loan amount as agreed in the loan agreement.
Losing Side's Weaknesses:
It is evident that the defendant committed default in repaying the loan amount as agreed in the loan agreement.
It is evident that the defendant committed default in repaying the loan amount as agreed in the loan agreement.
Supporting Evidence
Having considered the unchallenged oral testimony of PW1 and Ext. A1 to A6, it is evident that the defendant on availing the loan in connection with purchase of vehicle committed default in repaying the loan amount as agreed upon.
Judgment Evidence:
In the result, the suit is decreed with costs of the plaintiff as follows. The plaintiff is entitled to realize an amount of Rs. 6,59,683 from the defendant with 9% interest per annum from the date of suit till the date of decree.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- CANARA BANK
- Party Role
- Defendant
- Party Name
- Femi Sunil
- Party Age
- 32
- Relation
- W/o
Plaintiffs Documents
Loan Application, Loan sanction memorandum, Deed of Hypothication, Acknowledgement of Debt and security, Statement of accounts
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Saira Phirow
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Jasmin T.K.
- Appearance Type
- Assisting Counsel
- Party Role
- Defendant
- Advocate Name
- Ashley John
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Stejo K.S.
- Appearance Type
- Assisting Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff is entitled to realize an amount of Rs. 6,59,683 from the defendant with interest.
Evidence:
Therefore, it is found that the plaintiff has proved his case and therefore, he is entitled to get a decree of realization of money as prayed for.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
The defendant submitted Ext. A1 loan application to the plaintiff bank for availing loan in connection with purchase of a vehicle worth Rs. 5,94,371.
Reference:
Ext.A1
Document Type:
Loan Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
By virtue of Ext. A2, loan sanction memorandum dated 26.11.2014, it is evident that the plaintiff bank sanctioned the loan in favour of the defendant.
Reference:
Ext.A2
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
It is also evident that the defendant executed Ext. A3 letter of undertaking for the loan in favour of the plaintiff.
Reference:
Ext.A3
Document Type:
Deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
The defendant hypothecated his vehicle along with Ext. A4 deed of hypothecation.
Reference:
Ext.A4
Document Type:
Acknowledgement of Debt and Security
Submitted By:
Plaintiff
Relevance:
Ext. A5 would show that the defendant signed and accepted the acknowledgement of debt and security on 20.11.2017.
Reference:
Ext.A5
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Ext. A6 statement of account of the defendant shows that the defendant did not make repayment of loan amount.
Reference:
Ext.A6
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 Femi Sunil regarding realization of money.
Case Code Year
Case between CANARA BANK vs Femi Sunil regarding realization of money.