Case Summary
Canara Bank filed a suit against M/s Lakshmi Narayana Shop and its proprietor Seena O V for the recovery of dues on loans that were not repaid. The defendants defaulted on their repayment obligations despite repeated requests from the bank.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Plaintiff is entitled to realize an amount of Rs.3,53,083.50/- with interest.
Case Type
Civil Suit
Final Judgment
No
The court has decreed the suit in favor of the plaintiff, directing the defendants to pay the total amount due along with applicable interest. Defendants are also held liable for the decree debt with their assets.
Why Plaintiff Won:
Plaintiff established a case based on unrebutted evidence concerning loan agreements and defaults in repayment.
Plaintiff established a case based on unrebutted evidence concerning loan agreements and defaults in repayment.
Losing Side's Weaknesses:
Plaintiff established a case based on unrebutted evidence concerning loan agreements and defaults in repayment.
Plaintiff established a case based on unrebutted evidence concerning loan agreements and defaults in repayment.
Supporting Evidence
On perusal of the plaint, proof affidavit and documents produced, I am of the view that plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.3,53,083.50/- with interest from defendants.
Judgment Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.1,89,705.55/- along with 10.80% interest and Rs.1,63,377.95/- along with 9.25% interest from the date of suit till the date of decree and 6% from the date of decree till payment or realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- represented by
- Party Role
- Defendant
- Party Name
- M/s Lakshmi Narayana Shop
- Relation
- Proprietor
- Party Role
- Defendant
- Party Name
- Seena O V
- Party Age
- 50
- Relation
- W/o Sukumaran K S
Plaintiffs Documents
General Power of Attorney, Loan application dated 25.09.2017, Sanction communication dated 07.10.2017, Agreement cum deed of hypothecation dated 10.10.2017, Acknowledgment of Debt and Security dated 09.10.2020.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Srinath S S
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Jibin P George
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Sreelakshmi R
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Aswany Ujwal
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Subin K Sudheer
- Appearance Type
- Government Pleader
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff directed to recover Rs.3,53,083.50/- from the defendants.
Evidence:
I am of the view that plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.3,53,083.50/- with interest from defendants.
Relief Type:
Interest
Outcome:
Granted
Description:
Defendants shall pay interest at specified rates on the amount due.
Evidence:
Defendants shall pay interest @10.80% per annum for Rs.1,89,705.55/- and @ 9.25% per annum for Rs.1,63,377.95/- from the date of suit till the date of realization or payment.
Relief Type:
Other
Outcome:
Granted
Description:
Defendants' assets are liable to satisfy the decree debt.
Evidence:
Defendants shall be personally and their assets shall also be liable to satisfy the decree debt.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff entitled to recover costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
True Copy of General Power of Attorney
Submitted By:
Plaintiff
Relevance:
Presented to establish authority of the plaintiff's representative.
Reference:
Ext.A1
Document Type:
Original authorization letter
Submitted By:
Plaintiff
Relevance:
Provided authorization to the manager of the plaintiff bank.
Reference:
Ext.A2
Document Type:
Letter of Proprietorship
Submitted By:
Plaintiff
Relevance:
Verified the proprietorship of the first defendant.
Reference:
Ext.A3
Document Type:
Original loan application
Submitted By:
Plaintiff
Relevance:
Illustrated the loan request made by the defendants.
Reference:
Ext.A4
Document Type:
Original Sanction Communication
Submitted By:
Plaintiff
Relevance:
Confirmation of the loan amount sanctioned to the defendants.
Reference:
Ext.A5
Document Type:
Original agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Described the hypothecation agreement related to the loan.
Reference:
Ext.A6
Document Type:
Original Letter of Undertaking Re: Loans/Advances
Submitted By:
Plaintiff
Relevance:
Indicated the undertaking regarding the loans.
Reference:
Ext.A7
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Confirmed the acknowledgment of the debt by the second defendant.
Reference:
Ext.A8
Document Type:
Original Request for Overdraft Facilities
Submitted By:
Plaintiff
Relevance:
Requested additional overdraft facilities by the defendants.
Reference:
Ext.A9
Document Type:
Original Cash Credit Agreement
Submitted By:
Plaintiff
Relevance:
Outlined the terms of the cash credit agreement.
Reference:
Ext.A10
Document Type:
Original Pronote
Submitted By:
Plaintiff
Relevance:
Demonstrated the defendants' promise to pay the loan amount.
Reference:
Ext.A11
Document Type:
Original Application for Restructuring
Submitted By:
Plaintiff
Relevance:
Showed the restructuring application for the cash credit account.
Reference:
Ext.A12
Document Type:
Original Sanction Communication Letter
Submitted By:
Plaintiff
Relevance:
Details regarding the sanctioned restructuring loan.
Reference:
Ext.A13
Document Type:
Original Debt Restructuring Agreement
Submitted By:
Plaintiff
Relevance:
Described the terms of the restructured loan agreement.
Reference:
Ext.A14
Document Type:
Original Debtor-Creditor Agreement
Submitted By:
Plaintiff
Relevance:
Documented the relationship between debtor and creditor.
Reference:
Ext.A15
Document Type:
Original Guarantee Covering Letter
Submitted By:
Plaintiff
Relevance:
Outlined the guarantee agreement given by the second defendant.
Reference:
Ext.A16
Document Type:
Original Letter of Undertaking Re: Loans/Advances
Submitted By:
Plaintiff
Relevance:
Further confirmation regarding the undertaking for loans.
Reference:
Ext.A17
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Another acknowledgment related to the debt.
Reference:
Ext.A18
Document Type:
Copy of Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Legal notice issued to demand repayment from the defendants.
Reference:
Ext.A19
Document Type:
Returned Postal Cover with Acknowledgment
Submitted By:
Plaintiff
Relevance:
Documentation showing the unserved legal notice sent to first defendant.
Reference:
Ext.A20
Document Type:
Returned Postal Cover with Acknowledgment
Submitted By:
Plaintiff
Relevance:
Document showing the unserved legal notice sent to second defendant.
Reference:
Ext.A21
Document Type:
Certified True Copy of Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Extracts of the accounts indicating amount due.
Reference:
Ext.A22
Document Type:
Certified True Copy of Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Further extracts of the accounts related to the defendants.
Reference:
Ext.A23
Document Type:
Authorization letter
Submitted By:
Plaintiff
Relevance:
Authorization letter issued to the current manager of the plaintiff bank.
Reference:
Ext.A24
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Non-payment of rent
Case Code
Case between Canara Bank vs M/s Lakshmi Narayana Shop et al regarding realization of money.
Case Code Year
Case between Canara Bank vs M/s Lakshmi Narayana Shop et al regarding realization of money.