Case Summary
The plaintiff, Canara Bank, is seeking to recover an outstanding loan amount from the defendant, M/s. Central Medicals, who failed to comply with the repayment terms. The case involves claims for a secured overdraft and a guaranteed emergency credit line loan.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant is directed to pay an amount of Rs.12,12,100/- to the plaintiff.
Case Type
Commercial Suit
Final Judgment
No
The court decreed the suit, directing the defendant to pay the outstanding loan amount to the plaintiff with interest. Additionally, the plaintiff is entitled to costs of the suit.
Why Plaintiff Won:
The unchallenged oral testimony of PW1 coupled with documentary evidence proved that the defendant failed to repay the loan.
The unchallenged oral testimony of PW1 coupled with documentary evidence proved that the defendant failed to repay the loan.
Losing Side's Weaknesses:
The unchallenged oral testimony of PW1 coupled with documentary evidence proved that the defendant failed to repay the loan.
The unchallenged oral testimony of PW1 coupled with documentary evidence proved that the defendant failed to repay the loan.
Supporting Evidence
The unchallenged oral testimony of PW1 coupled with Exts. A1 series to A3 documents very well shows that the defendant failed to repay the loan amount with interest to plaintiff.
Judgment Evidence:
In the result, the suit is decreed as follows: Defendant is directed to pay an amount of Rs.12,12,100/- to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Party Role
- Defendant
- Party Name
- M/s. Central Medicals
Plaintiffs Documents
Sanction Letter, Sanction Memorandum, Agreement Cum Deed of Hypothecation, Account Statement
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. Sreehari. P.S
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Smt. Shiji
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendant is directed to pay an amount of Rs.12,12,100/- to the plaintiff.
Evidence:
Accordingly, the suit is liable to be decreed directing the defendant to pay the outstanding amount.
Relief Type:
Interest
Outcome:
Granted
Description:
Plaintiff will be entitled for interest at the rate of 6% per annum from the date of the suit till realisation of the decree.
Evidence:
The plaintiff will be entitled for interest at the rate of 6% per annum from the date of the suit till realisation of the decree.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff will be entitled for costs of the suit.
Evidence:
The plaintiff will be entitled for costs of the suit.
Documents & Evidence
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
The document serves as proof of the sanctioned loan amount.
Reference:
Ext.A1
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
The document provides details of the sanction for the loan facility.
Reference:
Ext.A1(a)
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
The document outlines the terms of the agreement for loan repayment.
Reference:
Ext.A2
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
The document is related to the second loan agreement.
Reference:
Ext.A2(a)
Document Type:
Attested copy of the Account statement
Submitted By:
Plaintiff
Relevance:
The document shows the outstanding balance owed by the defendant.
Reference:
Ext.A3
Case Classification
Case Type
Commercial Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Commercial Court Kozhikode
Common Reasons
Recovery of money
Case Code
Case between Canara Bank vs M/s. Central Medicals regarding realisation of amount
Case Code Year
Case between Canara Bank vs M/s. Central Medicals regarding realisation of amount