Case Summary
Canara Bank filed a suit against Mohammed Ashique T K for recovery of outstanding loan amount. The defendant defaulted on a loan of Rs. 8,00,000 sanctioned under the Prime Minister's Employment Generation Programme.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Rs.9,54,655/- along with interest @12.30% per annum from the date of suit till the date of decree and 6% from the date of decree till payment or realization
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, ordering the defendant to pay the outstanding amount along with interest. The defendant's assets are also liable to satisfy the decree debt.
Why Plaintiff Won:
Plaintiff established a case for recovery based on the defendant's agreement to repay the loan amount along with the stipulated interest.
Plaintiff established a case for recovery based on the defendant's agreement to repay the loan amount along with the stipulated interest.
Losing Side's Weaknesses:
Plaintiff established a case for recovery based on the defendant's agreement to repay the loan amount along with the stipulated interest.
Plaintiff established a case for recovery based on the defendant's agreement to repay the loan amount along with the stipulated interest.
Supporting Evidence
On perusal of the plaint, proof affidavit and documents produced, I am of the view that plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.9,54,655/- with interest from the defendant.
Judgment Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.9,54,655/- (Rupees Nine lakhs fifty four thousand six hundred and fifty five only) along with interest @12.30% per annum from the date of suit till the date of decree and 6% from the date of decree till payment or realization, as the case may be, to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- represented by its Manager Vijith N, S/o P P Narayanan Kutty
- Party Role
- Defendant
- Party Name
- Mohammed Ashique T K
- Party Age
- 29
- Relation
- S/o Mohammedkutty
Plaintiffs Documents
Original Loan application form Pradhan Mantri Mudra Yojana dated 13.12.2022, Original agreement cum deed of hypothecation dated 12.12.2022, Original letter of undertaking dated 13.12.2022, Original sanction letter dated 13.12.2022, True copy of lawyer notice dated 19.06.2024, Original postal receipt, True copy of accounts statement dated 10.02.2025
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Mathew Abraham
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- o V Abraham
- Appearance Type
- Assisting Counsel
- Party Role
- Plaintiff
- Advocate Name
- C P B Subramanian
- Appearance Type
- Assisting Counsel
- Party Role
- Plaintiff
- Advocate Name
- Rema Menon R
- Appearance Type
- Assisting Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff sought recovery of outstanding amount of Rs.9,54,655/- with interest.
Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.9,54,655/- (Rupees Nine lakhs fifty four thousand six hundred and fifty five only) along with interest @12.30% per annum from the date of suit till the date of decree and 6% from the date of decree till payment or realization.
Documents & Evidence
Document Type:
Loan application form Pradhan Mantri Mudra Yojana (PMMY)
Submitted By:
Plaintiff
Relevance:
Original loan application signed by the defendant in favor of the plaintiff bank.
Reference:
Ext.A1
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Original agreement signed by the defendant in favor of the plaintiff bank.
Reference:
Ext.A2
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Original letter signed by the defendant in favor of the plaintiff bank.
Reference:
Ext.A3
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Original sanction letter signed by the defendant in favor of the plaintiff bank.
Reference:
Ext.A4
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
True copy of lawyer notice issued to the defendant regarding overdue payments.
Reference:
Ext.A5
Document Type:
Postal receipt
Submitted By:
Plaintiff
Relevance:
Original postal receipt related to the lawyer notice sent to the defendant.
Reference:
Ext.A6
Document Type:
Accounts statement
Submitted By:
Plaintiff
Relevance:
True copy of the computer-generated statement of accounts attested by the Manager of the plaintiff bank.
Reference:
Ext.A7
Case Classification
Case Type
Civil Suit
Category
Other Civil Cases
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Non-payment of rent
Case Code
Case between Canara Bank vs Mohammed Ashique T K regarding recovery of loan
Case Code Year
Case between Canara Bank vs Mohammed Ashique T K regarding recovery of loan