Case Summary
The plaintiff, Canara Bank, is seeking repayment of loans granted to the defendants, who failed to comply with repayment conditions. The case involves financial assistance provided to the defendants for their business.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants are directed to pay Rs.11,16,125/- and Rs.1,00,528/- along with interest, failing which the plaintiff can realize the same from the defendants and their assets.
Case Type
Commercial Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, awarding amounts owed by the defendants with specified interest rates.
Why Plaintiff Won:
The plaintiff’s claim was proven through the unrebutted testimony of their branch manager and documentary evidence.
The plaintiff’s claim was proven through the unrebutted testimony of their branch manager and documentary evidence.
Losing Side's Weaknesses:
The plaintiff’s claim was proven through the unrebutted testimony of their branch manager and documentary evidence.
The plaintiff’s claim was proven through the unrebutted testimony of their branch manager and documentary evidence.
Supporting Evidence
The evidence adduced by plaintiff stands unchallenged. From the unrebutted testimony of PW1 coupled with Exts. A1 to A9, it is found that the plaint claim stands proved and the plaintiff is entitled to a decree as prayed for.
Judgment Evidence:
In the result, the suit is decreed with costs as follows: 1) The defendants are directed to pay to the plaintiff, an amount of Rs.11,16,125/- with interest at the rate of 9.15% per annum from the date of institution of the suit till the date of decree...
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- M/s Fortune Trade Links
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Smt. Bijila. B.G
- Party Age
- 38
- Relation
- D/o
Plaintiffs Documents
Loan Application, Sanction Memorandum, Promissory note, Cash credit agreement, Deed of Hypothecation, Photocopy of Lawyer Notice, Account statement.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Smt. K.L.Sreedevi
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is awarded recovery of the principal loan amounts with interest.
Evidence:
In the result, the suit is decreed with costs as follows: The defendants are directed to pay to the plaintiff, an amount of Rs.11,16,125/- (Rupees eleven lakhs and sixteen thousand one hundred and twenty five only) with interest at the rate of 9.15% per annum...
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is awarded recovery of the second loan amount with interest.
Evidence:
The defendants are directed to pay to the plaintiff, an amount of Rs.1,00,528/- (Rupees one lakh five hundred and twenty eight only) with interest at the rate of 11.35% per annum...
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is awarded recovery of the costs of the suit.
Evidence:
The plaintiff is entitled to realize costs of the suit from the defendants and their assets.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
These documents were submitted by the defendants to apply for the loan.
Reference:
Exts.A1 to A2
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
These documents show the bank's approval of the loan applications.
Reference:
Exts.A3 to A4
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
This document evidences the defendants' promise to repay the loan.
Reference:
Ext.A5
Document Type:
Cash Credit Agreement
Submitted By:
Plaintiff
Relevance:
This document outlines the terms for the cash credit facility.
Reference:
Ext.A6
Document Type:
Deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
This document secures the loan against the defendants' assets.
Reference:
Ext.A7
Document Type:
Photocopy of Lawyer Notice
Submitted By:
Plaintiff
Relevance:
These documents are evidence of legal notices sent to the defendants regarding loan repayment.
Reference:
Ext.A8 series
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
This document provides a detailed account of the loans and the outstanding amounts.
Reference:
Ext.A9
Case Classification
Case Type
Commercial Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Commercial Court, Koyilandy
Common Reasons
Non-payment of rent
Case Code
Case between Canara Bank vs M/s Fortune Trade Links et al regarding realization of money.
Case Code Year
Case between Canara Bank vs M/s Fortune Trade Links et al regarding realization of money.