Case Summary
The plaintiff, Canara Bank, is seeking to recover a loan amount that was not repaid by the defendants, M/s. Divya Traders, and its proprietor Saneesh.G. The defendants borrowed money from the bank and have defaulted on repayment, leading to this lawsuit.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Plaintiff is entitled to realise an amount of Rs. 3,92,671.70 with interest.
Case Type
Civil Suit
Final Judgment
No
The suit is decreed in favor of the plaintiff. The defendants are ordered to pay an amount of Rs. 3,92,671.70 with interest for the defaulted loan.
Why Plaintiff Won:
The oral and documentary evidence from the plaintiff clearly established the defendants' indebtedness.
The oral and documentary evidence from the plaintiff clearly established the defendants' indebtedness.
Losing Side's Weaknesses:
Not available
Not available
Supporting Evidence
The evidence of PW1 coupled with Ext.A1, sanction memorandum dated 06/03/2020, Ext.A2, request for overdraft facilities dated 06/03/2020, Ext.A3, cash credit agreement and other documents clearly proved the plaint claim.
Judgment Evidence:
In the result, the suit is decreed with costs as follows: The plaintiff is entitled to realise an amount of Rs. 3,92,671.70/- with interest at the rate of 15.95% per annum from the date of the suit till the date of decree and at the rate of 6% per annum from the date of decree till realisation, from the defendants and their assets, with costs.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank, Ramankulangara Branch
- Relation
- represented by its Branch Manager Sri. Gokuldev.Y, S/o K.R. Yeshodharan Pillai
- Party Role
- Defendant
- Party Name
- M/s.Divya Traders
- Relation
- represented by its Proprietor Saneesh.G
- Party Role
- Defendant
- Party Name
- Saneesh.G
- Relation
- S/o Gopalakrishnan
Plaintiffs Documents
Sanction Memorandum, Request for overdraft facilities, Cash credit Agreement, Acknowledgment of Debt and Security, Office copy of Demand Notice, Office copy of Legal Notice, Acknowledgment Cards, Postal Receipts, Statement of accounts.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sumith Mohan
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Rakesh K.Rajan
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Shabana Sunil
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff granted recovery of Rs. 3,92,671.70 from the defendants.
Evidence:
The plaintiff is entitled to realise an amount of Rs. 3,92,671.70/- (Rupees Three Lakh Ninety two Thousand Six Hundred and Seventy one and Seventy Paise only) from the defendants and their assets with interest thereon at the rate of 15.95% per annum from the date of the suit till the date of decree.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff entitled to recover costs of the suit.
Evidence:
The plaintiff was constrained to sue for the amount that is legally due to him. Hence, there is no reason to deviate from the rule 'costs shall follow the event'.
Documents & Evidence
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Proves the approval of loan amount sanctioned to the defendants.
Reference:
Ext.A1
Document Type:
Request for Overdraft Facilities
Submitted By:
Plaintiff
Relevance:
Document showing the request for overdraft facilities by the defendants.
Reference:
Ext.A2
Document Type:
Cash Credit Agreement
Submitted By:
Plaintiff
Relevance:
Validates the agreement for cash credit between the bank and the defendants.
Reference:
Ext.A3
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Acknowledges the debt secured against the loan by the defendants.
Reference:
Ext.A4
Document Type:
Office copy of legal notice
Submitted By:
Plaintiff
Relevance:
Serves as evidence that a legal notice was issued to the defendants for loan recovery.
Reference:
Ext.A6
Document Type:
Acknowledgment Cards
Submitted By:
Plaintiff
Relevance:
Serves as proof of acknowledgment from the defendants.
Reference:
Ext.A7 series
Document Type:
Postal Receipts
Submitted By:
Plaintiff
Relevance:
Provides evidence of communication sent to the defendants.
Reference:
Ext.A8 series
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Details the outstanding amount owed by the defendants to the plaintiff bank.
Reference:
Ext.A9
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kollam
State
Kerala
Court Establishment
Munsiff Court Kollam
Common Reasons
Non-payment of rent
Case Code
OS.NO.
Case Code Year
2023