Case Summary
The plaintiff, Canara Bank, sanctioned a loan to the defendant, M/s 5 points, which defaulted on repayments. The court found in favor of the plaintiff's claim for the outstanding loan amount.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant shall pay an amount of Rs. 6,79,528/- with interest.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff. The defendant was ordered to pay the outstanding loan amount with interest.
Why Plaintiff Won:
The plaintiff's unchallenged evidence proved its case.
The plaintiff's unchallenged evidence proved its case.
Losing Side's Weaknesses:
The plaintiff's unchallenged evidence proved its case.
The plaintiff's unchallenged evidence proved its case.
Supporting Evidence
The court concluded that the unchallenged evidence provided by the plaintiff established the defendant's liability.
Judgment Evidence:
In the result, the suit is decreed with costs and defendant shall pay an amount of Rs. 6,79,528/- (Rupees Six lakhs Seventy Nine thousand Five hundred and Twenty Eight only) to the plaintiff with interest at the rate of 10.25% per annum for the principal amount from 23.05.2023 till the date of realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- represented by its Senior Manager
- Party Role
- Defendant
- Party Name
- M/s 5 points
- Relation
- Proprietrix
Plaintiffs Documents
Original MSME loan application, Sanction Memo, Term Loan Agreement, Deed of hypothecation, Particulars of Machinery/Equipment, letter of undertaking, Acknowledgment of Debt, loan application for loans to Micro Small and Medium Enterprises, Sanction letter, Agreement cum Deed of Hypothecation, advocate notice, certified copy of statement of account.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Smt. Teresa Jaya Fernandez
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Smt. Anisha Nair G.S
- Appearance Type
- Assisting Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Recovery of Rs. 6,79,528/- from the defendant with interest at the rate of 10.25% per annum.
Evidence:
Thus, the suit is decreed with costs and defendant shall pay an amount of Rs. 6,79,528/- with interest at the rate of 10.25% per annum for the principal amount from 23.05.2023 till the date of realization.
Documents & Evidence
Document Type:
MSME loan application, Term Loan Agreement, Deed of hypothecation, letter of undertaking, Acknowledgment of Debt, Particulars of Machinery/Equipment, Agreement cum Deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
These documents were used to establish the loan agreement, terms, and the defendant's acknowledgment of the debt.
Reference:
Ext.A1 to Ext.A8
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Thiruvananthapuram
State
Kerala
Court Establishment
Munsiff Court Thiruvananthapuram
Common Reasons
Recovery of money
Case Code
Case between Canara Bank vs M/s 5 points regarding realization of money.
Case Code Year
Case between Canara Bank vs M/s 5 points regarding realization of money.