Case Summary
This case involves Canara Bank seeking to recover a loan amount from M/s Design Tech and its proprietor Mr. Gopi Krishnan P.T. The defendants failed to repay the loan despite executing a loan agreement and acknowledgment of debt.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants to pay Rs.7,31,700 with interest.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The unchallenged proof affidavit and documents satisfactorily proved the plaint claim.
The unchallenged proof affidavit and documents satisfactorily proved the plaint claim.
Judgment Evidence:
In the result, the suit is decreed directing the defendants, severally and jointly to pay an amount of Rs.7,31,700/- with 8% interest per annum from the date of suit( ie, from 8.3.2023) till the date of decree.
Parties Involved
Plaintiffs
Canara Bank (Age not specified years)
Ernakulam South Branch, Ernakulam
Defendants
M/s Design Tech (Age not specified years)
K.S.Hall, Kritaala Road, Manorama Junction, Panampilly Nagar, Ernakulam, Pin – 682 036
Mr.Gopi Krishnan P.T (51 years years)
C.C.21/2189, Krishna Nivas, Chilavannoor, Kadavanthra, Ernakulam. Pin – 682 020
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
A decree directing the defendants to pay Rs.7,31,700/- with interest.
Evidence:
In the result, the suit is decreed directing the defendants, severally and jointly to pay an amount of Rs.7,31,700/- (Rupees seven lakhs thirty one thousand seven hundred only) with 8% interest per annum from the date of suit (ie, from 8.3.2023) till the date of decree.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A1
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A2
Document Type:
Agreement cum deed Hypothication
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A3
Document Type:
Acknowledgement of Debt and Security
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the defendants' acknowledgment of debt.
Reference:
Ext.A4
Document Type:
Statement of account of term loan
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan amount due.
Reference:
Ext.A5
Document Type:
Loan application for OCC
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A6
Document Type:
Loan Sanction memorandum for OCC
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A7
Document Type:
Cash Credit Agreement
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A8
Document Type:
Pro-note
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan amount due.
Reference:
Ext.A9
Document Type:
Letter for undertaking
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A10
Document Type:
Guarantee covering letter
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A11
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A12
Document Type:
Request for Over Draft facilities
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A13
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the defendants' acknowledgment of debt.
Reference:
Ext.A14
Document Type:
Letter of Proprietorship
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A15
Document Type:
Letter of Proprietorship
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan agreement.
Reference:
Ext.A16
Document Type:
Statement of account of OCC
Submitted By:
Plaintiff
Relevance:
Part of the documentation proving the loan amount due.
Reference:
Ext.A17