Case Summary
The plaintiff, Canara Bank, has filed a suit against the defendant, Praveen M.V, for the recovery of an outstanding loan amount. The defendant failed to adhere to the repayment terms and has not made any payment despite multiple demands.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendant is directed to pay to the plaintiff an amount of 9,45,962.76/- with interest.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The court found the plaintiff's case sufficiently proved by uncontested evidence.
The court found the plaintiff's case sufficiently proved by uncontested evidence.
Judgment Evidence:
In the result, the suit is decreed as follows: The defendant is directed to pay to the plaintiff, an amount of 9,45,962.76/- with interest at the rate of 6% per annum from the date of institution of the suit, till its realisation from the defendant and his assets.
Parties Involved
Plaintiffs
Canara Bank (Age not specified years)
Kalamassery Branch, Woodlands Annex Road, North Kalamassery, Ernakulam – 683 104
Defendants
Praveen M.V (43 years)
9/351, B, Moozhikkulath Kodikuthumala, Ashokapuram P.O, 683 101
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendant is directed to pay the plaintiff the outstanding loan amount.
Evidence:
The defendant is directed to pay to the plaintiff, an amount of 9,45,962.76/-(Rupees nine lakhs forty five thousand nine hundred and sixty two and seventy six paise only) with interest at the rate of 6% per annum from the date of institution of the suit, till its realisation from the defendant and his assets.
Relief Type:
Costs
Outcome:
Granted
Description:
The plaintiff is entitled to recover costs from the defendant.
Evidence:
Considering the nature of the suit and circumstances surrounding the suit, the plaintiff is entitled to the costs of the suit from the defendant.
Documents & Evidence
Document Type:
Application for Loan
Submitted By:
Plaintiff
Relevance:
This document was submitted to show the loan application made by the defendant.
Reference:
Ext.A1
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
This document was marked to demonstrate the loan amount sanctioned to the defendant.
Reference:
Ext.A2
Document Type:
Composite Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
This document was relevant for showing the agreement regarding the hypothecation of the vehicle.
Reference:
Ext.A3
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
This letter outlined the terms agreed upon by the defendant for the loan disbursement.
Reference:
Ext.A4
Document Type:
Letter of undertaking from the borrower
Submitted By:
Plaintiff
Relevance:
This document indicated the borrower's compliance with post-release terms.
Reference:
Ext.A5
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
This document was used to acknowledge the debt and security provided by the defendant.
Reference:
Ext.A6
Document Type:
Office copy of the Lawyers Notice
Submitted By:
Plaintiff
Relevance:
This notice was sent to the defendant demanding payment of the loan.
Reference:
Ext.A7
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
This statement showed the outstanding loan amount due from the defendant.
Reference:
Ext.A8