Case Summary
The plaintiff, Canara Bank, seeks to recover a loan amount from the defendant, Vakkayil Vydhyasala, which availed business loans under the bank's scheme. The defendant has failed to repay the loan amount despite multiple reminders.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff’s bank is allowed to realise the plaint claim of Rs.5,63,341/- and also to realise 9% interest on the principal amount of Rs.5,00,000/- from the defendant or his assets.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, allowing them to recover the loan amount along with interest from the defendant.
Why Plaintiff Won:
The plaintiff presented unrebutted evidence establishing the defendant's acknowledgment of the loan debts and their failure to repay.
The plaintiff presented unrebutted evidence establishing the defendant's acknowledgment of the loan debts and their failure to repay.
Losing Side's Weaknesses:
The plaintiff presented unrebutted evidence establishing the defendant's acknowledgment of the loan debts and their failure to repay.
The plaintiff presented unrebutted evidence establishing the defendant's acknowledgment of the loan debts and their failure to repay.
Supporting Evidence
The Manager of plaintiff’ bank examined as PW1. He filed proof affidavit in tune with the pleadings. In order to prove the case, he would also rely on Ext. A1 to A13 documents.
Judgment Evidence:
In the result, the suit is decreed with costs as follows: The plaintiff’s bank is allowed to realise the plaint claim of Rs.5,63,341/- (Five Lakh Sixty Three Thousand Three Hundred and Forty One Only) and also to realise 9% interest on the principal amount of Rs.5,00,000/- (Five Lakhs) from the defendant or his assets from the date of the suit ie, 24.06.2024 till realisation.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- The Canara Bank
- Relation
- represented by
- Party Role
- Plaintiff
- Party Name
- Arun Prakash.P.S
- Party Age
- 39
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- M/s Vakkayil Vydhyasala
- Relation
- represented by
- Party Role
- Defendant
- Party Name
- Dr.B.Ravikumar
- Party Age
- 71
- Relation
- S/o
Plaintiffs Documents
Loan application form, sanction memorandum, pro-note for Rs.3,00,000/-, agreement, letter of undertaking, request for overdraft facilities, supplemental agreement, acknowledgment of debt.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Joby Varghese.K
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Kohny.K.Manippadam
- Appearance Type
- Assisting Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff’s bank is allowed to realise the plaint claim of Rs.5,63,341/- and also to realise 9% interest on the principal amount of Rs.5,00,000/-.
Evidence:
In the result, the suit is decreed with costs as follows: The plaintiff’s bank is allowed to realise the plaint claim of Rs.5,63,341/- (Five Lakh Sixty Three Thousand Three Hundred and Forty One Only) and also to realise 9% interest on the principal amount of Rs.5,00,000/- (Five Lakhs) from the defendant or his assets from the date of the suit ie, 24.06.2024 till realisation.
Documents & Evidence
Document Type:
Loan Application Form
Submitted By:
Plaintiff
Relevance:
Original loan application form for loans to Micro and small enterprises dated 08.09.2015.
Reference:
Ext.A1
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Original sanction memorandum dated 08.09.2015.
Reference:
Ext.A2
Document Type:
Pro-note
Submitted By:
Plaintiff
Relevance:
Original pro-note for an amount of Rs.3,00,000/- dated 08.09.2015.
Reference:
Ext.A3
Document Type:
Agreement
Submitted By:
Plaintiff
Relevance:
Original agreement dated 08.09.2015.
Reference:
Ext.A4
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Original letter of undertaking dated 08.09.2015.
Reference:
Ext.A5
Document Type:
Request for Overdraft Facilities
Submitted By:
Plaintiff
Relevance:
Original request for overdraft facilities dated 08.09.2015.
Reference:
Ext.A6
Document Type:
Supplemental Agreement
Submitted By:
Plaintiff
Relevance:
Original supplemental agreement dated 03.11.2016.
Reference:
Ext.A7
Document Type:
Pro-note
Submitted By:
Plaintiff
Relevance:
Original pro-note for an amount of Rs.2,00,000/- dated 03.11.2016.
Reference:
Ext.A8
Document Type:
Link letter
Submitted By:
Plaintiff
Relevance:
Original link letter in respect of enhancement of credit facilities dated 03.11.2016.
Reference:
Ext.A9
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Original acknowledgment of debt and security dated 13.08.2018.
Reference:
Ext.A10
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Original acknowledgment of debt and security dated 04.06.2021.
Reference:
Ext.A11
Document Type:
Lawyer's Notice
Submitted By:
Plaintiff
Relevance:
Office copy of lawyers notice dated 05.11.2022.
Reference:
Ext.A12
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Statement of account No.2507255005238 of Vakkayil Vaidhyasala, dated 09.03.2023.
Reference:
Ext.A13
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kottayam
State
Kerala
Court Establishment
Munsiff Court Vaikom
Common Reasons
Recovery of money
Case Code
Case between The Canara Bank vs M/s Vakkayil Vydhyasala regarding realisation of money.
Case Code Year
Case between The Canara Bank vs M/s Vakkayil Vydhyasala regarding realisation of money.