Case Summary
The plaintiff, Canara Bank, filed a suit against Matrix Paper Products for recovery of money related to a loan agreement. The defendant defaulted on repayment, leading to a legal dispute.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Case Type
Recovery of Money
Final Judgment
No
The plaintiff is awarded a sum of ₹7,51,307 with 12% future interest per annum. The defendant is also directed to pay the costs of the suit.
Why Plaintiff Won:
The plaintiff successfully proved the outstanding liability, default in repayment, and validity of interest claims within RBI guidelines.
The plaintiff successfully proved the outstanding liability, default in repayment, and validity of interest claims within RBI guidelines.
Losing Side's Weaknesses:
The plaintiff successfully proved the outstanding liability, default in repayment, and validity of interest claims within RBI guidelines.
The plaintiff successfully proved the outstanding liability, default in repayment, and validity of interest claims within RBI guidelines.
Supporting Evidence
The plaintiff's evidence remained unchallenged and established the defendant's default in repayment, supporting the claim for relief.
Judgment Evidence:
In the result, the suit is decreed as follows: 1. The defendant is directed to pay the plaintiff a sum of ₹7,51,307/- (Rupees Seven Lakhs Fifty One Thousand Three Hundred and Seven only ) with future interest @ 12% per annum from the date of the suit till the date of realization. 2. The defendant shall also pay costs of the suit.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Matrix Paper Products
- Relation
- Represented by
Plaintiffs Documents
22.09.2021 Original application for loan, 24.09.2021 Original Sanction letter, 24.09.2021 Original agreement cum deed of hypothication, 24.09.2021 Original letter of undertaking, 27.01.2024 Bank Account statement, 24.09.2021 Original composite loan agreement, 22.09.2021 Original particulars of assets, 10.03.2025 Attested copy of authorization letter
Defendants Documents
Advocates
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff awarded ₹7,51,307 with 12% future interest
Evidence:
The plaintiff is entitled for the relief claimed in the suit
Documents & Evidence
Document Type:
Original application for loan
Submitted By:
Plaintiff
Relevance:
Established loan application by defendant
Reference:
Ext.A1
Document Type:
Original Sanction letter
Submitted By:
Plaintiff
Relevance:
Documents sanctioning loan to defendant
Reference:
Ext.A2
Document Type:
Original agreement cum deed of hypothication
Submitted By:
Plaintiff
Relevance:
Hypothecation agreement for loan
Reference:
Ext.A3
Document Type:
Original letter of undertaking
Submitted By:
Plaintiff
Relevance:
Undertaking by defendant for loan
Reference:
Ext.A4
Document Type:
Bank Account statement
Submitted By:
Plaintiff
Relevance:
Shows account details related to the loan
Reference:
Ext.A5
Document Type:
Original composite loan agreement
Submitted By:
Plaintiff
Relevance:
Comprehensive loan agreement details
Reference:
Ext.A6
Document Type:
Original particulars of assets
Submitted By:
Plaintiff
Relevance:
Details of assets linked to loan agreement
Reference:
Ext.A7
Document Type:
Attested copy of authorization letter
Submitted By:
Plaintiff
Relevance:
Authorization document related to the loan
Reference:
Ext.A8
Case Classification
Case Type
Recovery of Money
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Kolenchery
Common Reasons
Case Code
Case between Canara Bank vs Matrix Paper Products regarding Recovery of Money
Case Code Year
Case between Canara Bank vs Matrix Paper Products regarding Recovery of Money