Case Summary
Canara Bank filed a suit against M/s St.George Candles and its proprietorix for failing to repay loan amounts. The bank claims outstanding dues from loans extended to the defendants for their business.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants ordered to pay ₹ 4,18,085 with interest and ₹ 2,40,119 with interest, along with costs of the litigation.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
Plaintiff proved the existence of loan agreements and the defendants' default in repayment.
Plaintiff proved the existence of loan agreements and the defendants' default in repayment.
Judgment Evidence:
In the result, The suit is decreed directing the defendants to pay an amount of ₹ 4,18,085/- and ₹ 2,40,119/- with stated interest rates.
Parties Involved
Plaintiffs
Canara Bank (Age not specified years)
Arakunnam branch, Arakunnam P.O, Ernakulam District, Pin – 682 313
Defendants
M/s St.George Candles (Age not specified years)
Kochuparambil house, Near Toch college, Veliyanad, Arakkunnam, Ernakulam District, Pin – 682 313
Sindhu Wilson (50 years)
Kochuparambil house, Near Toch College, Veliyanad, Arakunnam, Ernakulam District, Pin – 682 313
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff sought to recover the outstanding loan amounts from the defendants.
Evidence:
The suit is decreed directing the defendants to pay an amount of ₹ 4,18,085/- with 11.90% interest per annum from 3/4/2024 to the date of suit...
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff sought to recover the overdraft amount from the defendants.
Evidence:
...along with 2,40,119/- with 10.80% interest per annum from 3/4/2024 to the date of suit...
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff is entitled to the costs of the litigation.
Evidence:
The plaintiff is also entitled to the costs of the litigation.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Original loan application submitted by the defendants for obtaining the term loan.
Reference:
Ext.A1
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Original agreement signed by the defendants in favour of the plaintiff bank.
Reference:
Ext.A2
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Original loan application submitted by the defendants for loan renewal.
Reference:
Ext.A3
Document Type:
Letter of renewal
Submitted By:
Plaintiff
Relevance:
Original letter renewing the loan agreement.
Reference:
Ext.A4
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Original memorandum that sanctioned the overdraft facility.
Reference:
Ext.A5
Document Type:
Cash Credit Agreement
Submitted By:
Plaintiff
Relevance:
Original cash credit agreement signed by the defendants.
Reference:
Ext.A6
Document Type:
Request for Overdraft Facilities
Submitted By:
Plaintiff
Relevance:
Original request for overdraft facilities submitted by the defendants.
Reference:
Ext.A7
Document Type:
Pronote
Submitted By:
Plaintiff
Relevance:
Original pronote signed in relation to the loan.
Reference:
Ext.A8
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
True copy of the lawyer notice issued to the defendants demanding loan repayment.
Reference:
Ext.A9
Document Type:
Postal Receipts
Submitted By:
Plaintiff
Relevance:
Two postal receipts related to the lawyer notice sent to the defendants.
Reference:
Ext.A10
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Statement of account from the plaintiff bank showing the loan and interest details.
Reference:
Ext.A11