Case Summary
Canara Bank has filed a suit against KST & Company for the recovery of a loan amount that was not repaid. The bank claims that the defendant defaulted on the repayment terms of a sanctioned MSME loan.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant to pay an amount of ₹.5,34,816.98 plus 12% interest per annum from the date of the suit until realization in full.
Case Type
Civil Suit
Final Judgment
No
The suit was decreed in favor of the plaintiff, allowing them to recover the outstanding loan amount along with interest. The defendant was ordered to repay the amount with specified interest rates.
Why Plaintiff Won:
The unchallenged proof affidavit and documents satisfactorily proved the plaint claim.
The unchallenged proof affidavit and documents satisfactorily proved the plaint claim.
Losing Side's Weaknesses:
The unchallenged proof affidavit and documents satisfactorily proved the plaint claim.
The unchallenged proof affidavit and documents satisfactorily proved the plaint claim.
Supporting Evidence
The unchallenged proof affidavit and documents would satisfactorily proved the plaint claim.
Judgment Evidence:
In the result, the suit is decreed directing the defendant to pay an amount of ₹.5,34,816.98 with 12% interest per annum from the date of the suit till date of the decree.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- Rep. By its Manager Rohit.R.
- Party Role
- Defendant
- Party Name
- KST & Company
- Relation
- Rep. By its Proprietor Binu Thomas
Plaintiffs Documents
Loan Application, Deed of Hypothecation and letter of undertaking, Promissory Note, Loan sanction Letter, Confirmation letter, Letter of proprietorship, Letter of undertaking, Particulars items Hypothecated, Lawyer Notice with returned cover, Statement of Account details with Certificate, Power of Attorney, Acount statement, Authorization Letter
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- M.Y. Saju & Haritha Hariharan
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff was granted the recovery of the loan amount with interest.
Evidence:
the suit is decreed directing the defendant to pay an amount of ₹.5,34,816.98 ( Rupees Five Lakhs Thrityfour Thousand Eight Hundred and Sixteen and 98 paise only) plus 12% interest per annum from the date of the suit till date of the decree
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Submitted by the defendant to apply for an MSME loan.
Reference:
Ext.A1
Document Type:
Deed of Hypothecation and letter of undertaking
Submitted By:
Plaintiff
Relevance:
Document executed by the defendant in favor of the bank for the hypothecated items.
Reference:
Ext.A2
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
Promissory note executed by the defendant promising to repay the loan.
Reference:
Ext.A3
Document Type:
Loan Sanction Letter
Submitted By:
Plaintiff
Relevance:
Letter confirming the sanctioning of the loan by the plaintiff bank.
Reference:
Ext.A4
Document Type:
Confirmation letter
Submitted By:
Plaintiff
Relevance:
Letter confirming the items hypothecated by the defendant.
Reference:
Ext.A5
Document Type:
Letter of Proprietorship
Submitted By:
Plaintiff
Relevance:
Document indicating the ownership of the business by the defendant.
Reference:
Ext.A6
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Undertaking provided by the defendant in connection with the loan.
Reference:
Ext.A7
Document Type:
Particulars of Items Hypothecated
Submitted By:
Plaintiff
Relevance:
Details of items hypothecated as security for the loan.
Reference:
Ext.A8
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Notice issued to the defendant regarding loan default.
Reference:
Ext.A9
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Another notice issued to the defendant regarding loan default.
Reference:
Ext.A10
Document Type:
Statement of Account Details with Certificate
Submitted By:
Plaintiff
Relevance:
Document providing account details and certificate of outstanding dues.
Reference:
Ext.A11
Document Type:
Power of Attorney
Submitted By:
Plaintiff
Relevance:
Document granting authority to act on behalf of the bank.
Reference:
Ext.A12
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
Recent statement showing the defendant's financial activity.
Reference:
Ext.A13
Document Type:
Authorization letter
Submitted By:
Plaintiff
Relevance:
Letter authorizing actions in connection with the loan recovery.
Reference:
Ext.A14
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Kolenchery
Common Reasons
Recovery of money
Case Code
Case between Canara Bank vs KST & Company regarding realization of money
Case Code Year
Case between Canara Bank vs KST & Company regarding realization of money