Case Summary
Canara Bank filed a suit against M/s Global Enterprises for the recovery of a loan amount due to default in payments. The court found in favor of the bank based on the evidence provided.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendants are directed to pay the amount of Rs. 4,06,802/- along with interest.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of Canara Bank, ordering M/s Global Enterprises to pay the outstanding amount along with interest.
Why Plaintiff Won:
The unchallenged evidence of the plaintiff proved that the defendants were liable to repay the loan.
The unchallenged evidence of the plaintiff proved that the defendants were liable to repay the loan.
Losing Side's Weaknesses:
The unchallenged evidence of the plaintiff proved that the defendants were liable to repay the loan.
The unchallenged evidence of the plaintiff proved that the defendants were liable to repay the loan.
Supporting Evidence
The unchallenged evidence of the plaintiff along with the documents marked as Ext.A1 to A9 proves the case of the plaintiff that the defendants are liable to pay the amount due.
Judgment Evidence:
In the result, the suit is decreed with costs as follows: The defendants are hereby directed to pay the amount of Rs. 4,06,802/- along with 12% per annum as interest from the date of suit till the date of decree and with future interest at the rate of 6% per annum, till realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Party Role
- Defendant
- Party Name
- M/s Global Enterprises
- Party Age
- 28
- Relation
- S/o
Plaintiffs Documents
Loan application dated 27.02.2017, Sanction memorandum dated 23.02.2017, Agreement cum deed of hypothecation dated 03.03.2017, Letter of undertaking dated 03.03.2017, Deed of hypothecation dated 03.03.2017, Statement of account dated 27.02.2019, Office copy of notice dated 21.04.2017, Office copy of lawyer notice dated 05.10.2017.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- P.S. Bastin
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- K.M. Alias
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff is entitled to recover the amount of Rs. 4,06,802/- along with interest.
Evidence:
In the result, the suit is decreed with costs as follows: The defendants are hereby directed to pay the amount of Rs. 4,06,802/- along with 12% per annum as interest from the date of suit till the date of decree and with future interest at the rate of 6% per annum, till realization.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
This document supports the plaintiff's claim of the loan application submitted by the defendant.
Reference:
Ext.A1
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
This document indicates the terms under which the loan was sanctioned to the defendant.
Reference:
Ext.A2
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
This document shows the formal agreement that detailed the hypothecation of assets as security for the loan.
Reference:
Ext.A3
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
This document reflects the defendant's commitment to repay the loan as per the agreed terms.
Reference:
Ext.A4
Document Type:
Deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
This document formalizes the hypothecation arrangement in relation to the loan.
Reference:
Ext.A5
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
This document provides a record of the financial transactions related to the loan account.
Reference:
Ext.A6
Document Type:
Office Copy of Notice
Submitted By:
Plaintiff
Relevance:
This document acts as evidence of the plaintiff's demand for repayment of the loan.
Reference:
Ext.A7
Document Type:
Office copy of lawyer notice
Submitted By:
Plaintiff
Relevance:
This document serves as proof of official communication from the plaintiff's lawyer demanding payment.
Reference:
Ext.A8
Document Type:
Certified Copy of Proceedings
Submitted By:
Plaintiff
Relevance:
This document provides the court's official record regarding the proceedings.
Reference:
Ext.A9
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Perumbavoor
Common Reasons
Recovery of money
Case Code
Case between Canara Bank vs M/s Global Enterprises regarding realization of money.
Case Code Year
Case between Canara Bank vs M/s Global Enterprises regarding realization of money.