Case Summary
Canara Bank filed a suit against M/s Unique Engineering Enterprise and its proprietor Johny C A for the realization of a loan amount of Rs.3,76,184.93 with interest. The defendants failed to appear in court and were set exparte.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.3,76,184.93 with interest and costs of the suit.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
Plaintiff has established a case based on unchallenged evidence of default in loan repayment.
Plaintiff has established a case based on unchallenged evidence of default in loan repayment.
Judgment Evidence:
In the result, suit is decreed as follows: 1) Defendants shall pay Rs.3,76,184.93/- along with interest @10.70 % per annum from the date of suit till the date of decree and 6% from the date of decree till payment or realization, as the case may be, to plaintiff.
Parties Involved
Plaintiffs
Canara Bank (Age not specified years)
Woodlands Annex, Eloor Road, North Kalamasserry, Ernakulam- 683104
Danny Babu (32 years)
Oravil House, Kadayiruppu P O, Kolenchery, Aikkaranadu North Village, Kunnathunadu Taluk
Defendants
M/s Unique Engineering Enterprise (Age not specified years)
Building No. 21/99, Punnakattumoola, South Pipeline Road, Cochin University P O, Kalamasserry, Pin- 682022
Johny C A (75 years)
Santhigiri Old Age Home, NAD Road, Kalamasserry, Pin- 683503
Reliefs
Relief Type:
Damages
Outcome:
Granted
Description:
Defendants shall pay Rs.3,76,184.93/- along with interest.
Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.3,76,184.93/- (Rupees Three lakhs seventy six thousand one hundred eighty four and ninety three paise only) along with interest @10.70 % per annum from the date of suit till the date of decree and 6% from the date of decree till payment or realization, as the case may be, to plaintiff.
Relief Type:
Other
Outcome:
Granted
Description:
Defendants shall be personally and their assets shall be 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 is entitled to costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Micro and Small Enterprises Loan Application
Submitted By:
Plaintiff
Relevance:
Submitted by the first defendant to obtain a loan from the plaintiff bank.
Reference:
Ext.A1
Document Type:
Sanction Communication Letter
Submitted By:
Plaintiff
Relevance:
Notification of the loan sanction issued by the plaintiff bank.
Reference:
Ext.A2
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Documentation pertaining to the loan agreement.
Reference:
Ext.A3
Document Type:
Composite Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Agreement outlining the hypothecation of assets for the loan.
Reference:
Ext.A4
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Acknowledgment by the defendants of the debt owed to the plaintiff.
Reference:
Ext.A5
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Second acknowledgment confirming the debt by the defendants.
Reference:
Ext.A6
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Notice issued to the defendants regarding the outstanding liability.
Reference:
Ext.A7
Document Type:
Postal Receipts
Submitted By:
Plaintiff
Relevance:
Proof of sending the lawyer notice to the defendants.
Reference:
Ext.A8
Document Type:
Returned Envelopes
Submitted By:
Plaintiff
Relevance:
Returned envelopes indicating that the notices could not be delivered.
Reference:
Ext.A9
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
Statement detailing the defendants' loan account and repayment status.
Reference:
Ext.A10