Case Summary
Canara Bank is the plaintiff seeking recovery of a loan amount from the defendants, who have defaulted on repayment. The defendants did not appear in court, leading to an ex-parte decree.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants are directed to pay an amount of Rs.10,65,926/- with 9% interest per annum from the date of suit till the date of decree and thereafter @ 6% per annum till realization.
Case Type
Commercial Suit
Final Judgment
No
The court has decreed the suit in favor of the plaintiff, ordering the defendants to pay the outstanding loan amount along with interest.
Why Plaintiff Won:
Plaintiff proved their case through evidences including documents and witness testimony.
Plaintiff proved their case through evidences including documents and witness testimony.
Losing Side's Weaknesses:
Plaintiff proved their case through evidences including documents and witness testimony.
Plaintiff proved their case through evidences including documents and witness testimony.
Supporting Evidence
Evidence of PW1 would go to show that after availing the loan the defendants have defaulted in repaying the loan amount.
Judgment Evidence:
In the result, suit is decreed as follows: (1) The defendants are directed to pay an amount of Rs.10,65,926/- (Rupees ten lakhs sixty five thousand nine hundred and twenty six only) with 9% interest per annum from the date of suit till the date of decree and thereafter @ 6% per annum till realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Proprietor, M/s. Dr. Richie Marketing
- Party Role
- Defendant
- Party Name
- Rajeesh.K
- Party Age
- 34
- Relation
- S/o
Plaintiffs Documents
Application form for loans to micro small and medium enterprises, Sanction memorandum, Cash credit agreement executed by defendants in favour of plaintiff, Letter of undertaking.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri.T.J Roy
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- A.T Raju
- Appearance Type
- Assisting Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants are directed to pay the outstanding loan amount with interest.
Evidence:
the defendants are directed to pay an amount of Rs.10,65,926/- with 9% interest per annum from the date of suit till the date of decree
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff entitled to recover the costs of the suit.
Evidence:
the plaintiff is also entitled to realise the costs of the suit
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Defendants applied for a loan in the plaintiff bank.
Reference:
Ext.A1
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Loan was sanctioned to the defendants.
Reference:
Ext.A3
Document Type:
Cash Credit Agreement
Submitted By:
Plaintiff
Relevance:
Executed by the defendants in favor of the plaintiff at the time of availing the loan.
Reference:
Ext.A4
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Executed by the defendants agreeing to various terms and conditions.
Reference:
Ext.A5
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Notified defendants to repay the loan amount.
Reference:
Ext.A6
Document Type:
Postal receipt
Submitted By:
Plaintiff
Relevance:
Used to show the issuance of lawyer notice.
Reference:
Ext.A7
Document Type:
Returned lawyer notice
Submitted By:
Plaintiff
Relevance:
Indicates that notice to the defendants was unclaimed.
Reference:
Ext.A8
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
Demonstrates outstanding amount in the loan account.
Reference:
Ext.A9
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 rent
Case Code
Case between Canara Bank vs Proprietor, M/s. Dr. Richie Marketing regarding realisation of money
Case Code Year
Case between Canara Bank vs Proprietor, M/s. Dr. Richie Marketing regarding realisation of money