Case Summary
Canara Bank filed a suit for the realization of money against Nikhil Raj.R. and Reghuraj.C. The defendants defaulted on repayment of an education loan taken for completing an MBA course.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Realisation of an amount of Rs.5,81,668.82/- with interest
Case Type
Civil Suit
Final Judgment
No
The court decreed in favor of the plaintiff, ordering the defendants to pay the outstanding loan amount with interest.
Why Plaintiff Won:
The plaintiff successfully proved the defendants' liability through evidence and documentation.
The plaintiff successfully proved the defendants' liability through evidence and documentation.
Losing Side's Weaknesses:
The plaintiff successfully proved the defendants' liability through evidence and documentation.
The plaintiff successfully proved the defendants' liability through evidence and documentation.
Supporting Evidence
The oral as well as documentary evidence adduced from the side of plaintiff bank clearly established that the defendants are indebted to the plaintiff bank.
Judgment Evidence:
In the result, the suit is decreed with costs as follows: The plaintiff is entitled to realise an amount of Rs.5,81,668.82/- with interest at the rate of 11.05% 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.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- represented by
- Party Role
- Defendant
- Party Name
- Nikhil Raj.R.
- Party Age
- 30
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Reghuraj.C
- Party Age
- 57
- Relation
- S/o
Plaintiffs Documents
Authorization Letter dated 25-02-2025, Loan Application dated 25-05-2015, Education Loan Agreement dated 25-05-2015, Sanction Memorandum dated 25-05-2015, Acknowledgment of Debt dated 09-01-2023.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- A. Adbul Khalam
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Jayasree.K
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Niveditha.P
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Adithya Lekshmi.P
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Recovery of an amount of Rs.5,81,668.82 along with interest.
Evidence:
The plaintiff is entitled to realise an amount of Rs.5,81,668.82/- (Rupees Five Lakh Eighty One Thousand Six Hundred and Sixty Eight and Eighty Two Paise only) with interest at the rate of 11.05% per annum from the date of the suit till the date of decree.
Documents & Evidence
Document Type:
Authorization letter
Submitted By:
Plaintiff
Relevance:
Proves the authority of the plaintiff bank regarding the loan.
Reference:
Ext.A1
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Documents the application made for the educational loan.
Reference:
Ext.A2
Document Type:
Education Loan Agreement
Submitted By:
Plaintiff
Relevance:
Details the terms and conditions of the loan availed.
Reference:
Ext.A3
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Confirms the approval of the educational loan by the bank.
Reference:
Ext.A4
Document Type:
Agreement
Submitted By:
Plaintiff
Relevance:
Outlines the agreement made between the bank and defendants.
Reference:
Ext.A5
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Indicates the defendants' acknowledgment of the outstanding debt.
Reference:
Ext.A6
Document Type:
Office copy of legal notice
Submitted By:
Plaintiff
Relevance:
Documents the formal notice sent to defendants about the overdue amount.
Reference:
Ext.A7
Document Type:
Postal Receipts
Submitted By:
Plaintiff
Relevance:
Proof of sending the legal notice to the defendants.
Reference:
Ext.A8
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Details the outstanding balance and transactions related to the loan.
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
Recovery of money
Case Code
Case between Canara Bank vs Nikhil Raj.R. et al regarding Realisation of Money
Case Code Year
Case between Canara Bank vs Nikhil Raj.R. et al regarding Realisation of Money