Case Summary
The plaintiff, Canara Bank, filed a suit against M/s Mookambika Metals for the realization of a loan amount which was not repaid. The defendant failed to appear in court, leading to the suit being decreed in favor of the plaintiff.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff shall be entitled to realize Rs 2,57,056.50 with interest at the rate of 9 percent from date of suit till date of decree and with future interest at the rate of 6 percent from the date of decree till date of realization.
Case Type
Civil Suit
Final Judgment
No
The court decreed in favor of the plaintiff, allowing the recovery of the principal amount along with interest from the defendant.
Why Plaintiff Won:
The case of the plaintiff is proved by the unchallenged oral testimony of the PW1 and the exhibit A1 to A7 documents.
The case of the plaintiff is proved by the unchallenged oral testimony of the PW1 and the exhibit A1 to A7 documents.
Losing Side's Weaknesses:
The case of the plaintiff is proved by the unchallenged oral testimony of the PW1 and the exhibit A1 to A7 documents.
The case of the plaintiff is proved by the unchallenged oral testimony of the PW1 and the exhibit A1 to A7 documents.
Supporting Evidence
The case of the plaintiff is proved by the unchallenged oral testimony of the PW1 and the exhibit A1 to A7 documents.
Judgment Evidence:
In the result, 1.The plaintiff shall be entitled to realize Rs 2,57,056.50 (Rupees Two lakhs fifty seven thousand and fifty six and paise five zero only) from the defendant with interest at the rate of 9 per cent from date of suit till date of decree and with future interest at the rate of 6 per cent from the date of decree till date of realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Party Role
- Defendant
- Party Name
- M/s Mookambika Metals
- Party Age
- 58
Plaintiffs Documents
Sanction Memorandum dated 11.09.2013, Cash Credit Agreement dated 11.09.2013, Pronote dated 11.09.2013, Sanction Memorandum dated 03.01.2017, Letter of Renewal dated 03.01.2017, Acknowledgment of debt and security dated 21.12.2015, 03.01.2017 and 09.12.2019, Statement of account dated 03.08.2022.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. Sreehari. P.S
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff shall recover Rs 2,57,056.50 from the defendant.
Evidence:
The plaintiff shall be entitled to realize Rs 2,57,056.50 (Rupees Two lakhs fifty seven thousand and fifty six and paise five zero only) from the defendant with interest at the rate of 9 per cent from date of suit till date of decree.
Relief Type:
Costs
Outcome:
Granted
Description:
Defendant shall pay costs of the proceedings to the plaintiff.
Evidence:
The defendant shall pay costs of the proceedings to the plaintiff.
Documents & Evidence
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Document evidencing the loan sanction to the defendant.
Reference:
Ext.A1
Document Type:
Cash Credit Agreement
Submitted By:
Plaintiff
Relevance:
Agreement outlining the terms of the cash credit facility.
Reference:
Ext.A2
Document Type:
Pronote
Submitted By:
Plaintiff
Relevance:
Document representing the defendant's acknowledgment of the loan.
Reference:
Ext.A3
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Subsequent sanction memorandum issued for loan renewal.
Reference:
Ext.A4
Document Type:
Letter of renewal
Submitted By:
Plaintiff
Relevance:
Letter documenting the renewal of the loan facility.
Reference:
Ext.A5
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Documents certifying the defendant's acknowledgment of debt on multiple occasions.
Reference:
Ext.A6 series
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Document stating the outstanding balance of the loan account.
Reference:
Ext.A7
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Munsiff Court 2 Kozhikode
Common Reasons
Non-payment of rent
Case Code
Case between Canara Bank vs M/s Mookambika Metals regarding realization of amount.
Case Code Year
Case between Canara Bank vs M/s Mookambika Metals regarding realization of amount.