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
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.
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
Plaintiffs
Canara Bank (Not available years)
Puthencruz Branch, Jai Nivas Complex, Near Petrol Pump, Puthencruz
Defendants
Matrix Paper Products (Not available years)
Door No.XV/187B, Chirappattu Building, Puttumanoor, Puthencruz Village
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