Case Summary
This case involves Canara Bank as the plaintiff and Niyas along with another defendant as the respondents. The plaintiff is seeking to recover an outstanding loan amount that the defendants failed to repay.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Amount of 10,34,950/- with interest and costs.
Case Type
Commercial Suit
Final Judgment
No
The court found the defendants liable for the loan default and decreed the suit in favor of the plaintiff. The defendants are ordered to pay the claimed amount along with interest.
Why Plaintiff Won:
The plaintiff successfully proved that the defendants had availed the loan and defaulted on repayment.
The plaintiff successfully proved that the defendants had availed the loan and defaulted on repayment.
Losing Side's Weaknesses:
The plaintiff successfully proved that the defendants had availed the loan and defaulted on repayment.
The plaintiff successfully proved that the defendants had availed the loan and defaulted on repayment.
Supporting Evidence
Having gone through the documents marked and proof affidavit filed by the plaintiff, I am satisfied that the plaintiff has successfully proved that the defendants had availed loan from the plaintiff bank as stated in the plaint.
Judgment Evidence:
In the result, the suit is decreed as follows: 1. The defendant is directed to pay an amount of 10,34,950/- (Rupees ten lakh thirty four thousand nine hundred and fifty only) to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- Rep.by its Manager Vishnu M
- Party Role
- Defendant
- Party Name
- Niyas
- Party Age
- 30
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Jore Experience Centre
- Relation
- Rep.by Proprietor Niyas
Plaintiffs Documents
Loan Application by the defendants, Loan sanction letter, Hypothecation deed, Copy of Rent Agreement, Lawyer notice, Postal receipt, Acknowledgment card, Account statement.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Smt. Baija P
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendant is directed to pay the loan amount to the plaintiff.
Evidence:
In the result, the suit is decreed as follows: The defendant is directed to pay an amount of 10,34,950/- (Rupees ten lakh thirty four thousand nine hundred and fifty only) to the plaintiff.
Relief Type:
Interest
Outcome:
Granted
Description:
Plaintiff entitled to interest on the amount due.
Evidence:
The plaintiff will be entitled for interest at the rate of 9% per annum from the date of the suit (20-01-2024) till the date of decree and thereafter at the rate of 6% per annum till realisation of the decree.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff entitled for costs of the suit.
Evidence:
The plaintiff will be entitled for costs of the suit.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Submitted by the defendants for the loan.
Reference:
Ext.A1
Document Type:
Loan Sanction Letter
Submitted By:
Plaintiff
Relevance:
Document confirming the loan sanctioned to the defendants.
Reference:
Ext.A2
Document Type:
Hypothecation Deed
Submitted By:
Plaintiff
Relevance:
Executed by the defendants as part of loan agreement.
Reference:
Ext.A3
Document Type:
Copy of Rent agreement
Submitted By:
Plaintiff
Relevance:
Relevant document related to the loan application.
Reference:
Ext.A4
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Notice served to the defendants regarding loan repayment.
Reference:
Ext.A5
Document Type:
Postal receipt
Submitted By:
Plaintiff
Relevance:
Proof of sending the lawyer notice.
Reference:
Ext.A5(a)
Document Type:
Postal Cover
Submitted By:
Plaintiff
Relevance:
Related to communications with the defendants.
Reference:
Ext.A6
Document Type:
Acknowledgment card
Submitted By:
Plaintiff
Relevance:
Confirmation of receipt of Postal Cover.
Reference:
Ext.A6(a)
Document Type:
Postal Cover
Submitted By:
Plaintiff
Relevance:
Related documentation for the communications.
Reference:
Ext.A6(b)
Document Type:
Acknowledgment card
Submitted By:
Plaintiff
Relevance:
Further confirmation of receipt.
Reference:
Ext.A6(c)
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
Shows loan transactions and outstanding balance.
Reference:
Ext.A7
Case Classification
Case Type
Commercial Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Commercial Court Kozhikode
Common Reasons
Non-payment of Loan
Case Code
Case between Canara Bank vs Niyas et al regarding realisation of loan amount
Case Code Year
Case between Canara Bank vs Niyas et al regarding realisation of loan amount