Case Summary
The case involves Canara Bank suing Jagath Chandran and Chandran for not repaying an educational loan. The defendants admitted their default but sought more time to repay the debt.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
An amount of ₹2,91,733.22/- with interest @ 10.75% per annum from the date of suit till realization
Case Type
Civil Suit
Final Judgment
No
The suit was decreed in favor of the plaintiff with an order for the defendants to pay the principal amount with interest, while penal interest was denied.
Why Plaintiff Won:
The defendants admitted to the debt and expressed willingness to pay.
The defendants admitted to the debt and expressed willingness to pay.
Losing Side's Weaknesses:
The defendants admitted to the debt and expressed willingness to pay.
The defendants admitted to the debt and expressed willingness to pay.
Supporting Evidence
Since, the defendants filed a conceding written statement stating that, they are ready to pay the decree debt within 1 year, the suit is decreed.
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
- JAGATH CHANDRAN
- Party Age
- 25
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- CHANDRAN
- Party Age
- 57
- Relation
- S/o
Plaintiffs Documents
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. K. K. Ratheesh Kumar
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Sri. Stephin. P. Wilson
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff bank is entitled to realize an amount of ₹2,91,733.22 with interest @ 10.75% per annum.
Evidence:
the suit is decreed with costs. The plaintiff is entitled to realize an amount of ₹2,91,733.22 with interest @ 10.75% per annum, from the date of suit till the date of realization.
Relief Type:
Other
Outcome:
Refused
Description:
Claim of penal interest of 2% denied as it is against RBI regulations.
Evidence:
the claim of penal interest of 2% is denied as it is against RBI regulations.
Documents & Evidence
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Munsiff Court, Nadapuram
Common Reasons
Non-payment of rent
Case Code
Case between CANARA BANK vs JAGATH CHANDRAN et al regarding realization of money
Case Code Year
Case between CANARA BANK vs JAGATH CHANDRAN et al regarding realization of money