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
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.
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
Plaintiffs
Canara Bank (Age not specified years)
Hill Palace road Branch, Tripunithura P O, Ernakulam District, Pin - 682 301
Defendants
Mohammed Ashique T K (29 years years)
Thonikkadavath House, Kattuppara, Pulamanthole, Chelakkad P O, Malappuram District, Pin 679 323, Now residing at Flat No. 3B In Karulil ECO Habitat, Near N M Roya County Hotel, Refinery Road, Thripunithura, Ernakulam District, Pin - 682 309
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