Case Summary
The plaintiff, Canara Bank, is seeking to recover a loan amount from the defendants, M/s. Olympia Multi Gym and Shajeera, who failed to repay the borrowed amount. The defendants were set ex parte as they did not appear in court.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Plaintiff is allowed to realise ₹2,37,175/- from the defendants and their assets.
Case Type
Civil Suit
Final Judgment
No
The court decreed in favor of the plaintiff, allowing them to recover the total amount owed, including interest. The defendants were found liable as they failed to appear and contest the claims.
Why Plaintiff Won:
The evidence of the plaintiff is unchallenged because the defendants were set ex parte and did not present a defense.
The evidence of the plaintiff is unchallenged because the defendants were set ex parte and did not present a defense.
Losing Side's Weaknesses:
The evidence of the plaintiff is unchallenged because the defendants were set ex parte and did not present a defense.
The evidence of the plaintiff is unchallenged because the defendants were set ex parte and did not present a defense.
Supporting Evidence
From the available evidences, the plaintiff bank is entitled for a decree for realization of the plaint amount with interest. Therefore, the Plaintiff is entitled to recover defaulted loan amount of ₹2,37,175/- with future agreed interest at the prevailing interest rate of 11.95% per annum with monthly rest from the defendant.
Judgment Evidence:
In the result, suit is decreed with costs as follows: 1. Plaintiff is allowed to realise ₹2,37,175/- from the defendants and their assets. 2. Plaintiff is allowed to realise interest at the rate of 11.95% per annum with monthly rests from 01/10/2024 till the date of decree. 3. Plaintiff is allowed to realise future interest at the rate of 6% per annum from the date of decree till realisation.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Party Role
- Defendant
- Party Name
- M/s. Olympia Multi Gym
- Party Age
- 46
- Relation
- W/o
- Party Role
- Defendant
- Party Name
- Shajeera
- Party Age
- 30
Plaintiffs Documents
Loan application, Composite hypothecation agreement, Guarantee agreement, Acknowledgment of debt and security, Statement of accounts.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. Prasanth.K.
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff seeks to recover the defaulted loan amount from the defendants.
Evidence:
Therefore, the Plaintiff is entitled to recover defaulted loan amount of Rs.2,37,175/- with future agreed interest at the prevailing interest rate of 11.95% per annum with monthly rest from the defendant.
Relief Type:
Interest
Outcome:
Granted
Description:
Plaintiff allowed to realize interest at the agreed rate.
Evidence:
Plaintiff is allowed to realise interest at the rate of 11.95% per annum with monthly rests from 01/10/2024 till the date of decree.
Relief Type:
Future Interest
Outcome:
Granted
Description:
Plaintiff entitled to future interest after the decree.
Evidence:
Plaintiff is allowed to realise future interest at the rate of 6% per annum from the date of decree till realisation.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff is allowed to recover costs of the suit.
Evidence:
Plaintiff is allowed to realise the costs of the suit from the defendant and her assets.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
This document is the loan application submitted by the defendants, which is crucial to establishing the loan agreement.
Reference:
Ext.A1
Document Type:
Composite Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
This agreement outlines the hypothecation terms of the loan, relevant to the court's decision.
Reference:
Ext.A2
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
This document is essential as it holds the guarantee from the second defendant for the loan.
Reference:
Ext.A3
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
This acknowledgment serves as evidence of the defendants' debt.
Reference:
Ext.A4
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
This document provides the breakdown of the amount owed by the defendants up to the date of the suit.
Reference:
Ext.A5
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Thiruvananthapuram
State
Kerala
Court Establishment
Munsiff Court Thiruvananthapuram
Common Reasons
Non-payment of rent
Case Code
Case between Canara Bank vs M/s. Olympia Multi Gym et al regarding realization of money.
Case Code Year
Case between Canara Bank vs M/s. Olympia Multi Gym et al regarding realization of money.