Case Summary
Canara Bank filed a suit against Raju Sebastian for the recovery of loan amount. The defendant failed to repay the loan despite several requests.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff is entitled to realize ₹69,220/- along with interest and costs of the suit.
Case Type
Civil Suit
Final Judgment
No
The suit is decreed in favor of the plaintiff, allowing recovery of the loan amount with interest.
Why Plaintiff Won:
The court found sufficient evidence of the defendant's liability and failure to repay the loan.
The court found sufficient evidence of the defendant's liability and failure to repay the loan.
Losing Side's Weaknesses:
Not available
Not available
Supporting Evidence
These documents are sufficient to show the liability of the defendant towards plaintiff bank and the commitment to repay the loan amount. Defendant could not rebut the evidence produced by the plaintiff bank.
Judgment Evidence:
In the result, the suit is decreed as follows: 1The plaintiff is entitled to realize ₹69,220/- (Rupees Sixty Nine Thousand Two Hundred and Twenty only) as on the date of suit, 9.40% interest per annum on ₹69,220/- from the date of suit till the date of decree and 6% interest per annum on the said amount from the date of decree till realization of the amount, from the defendant and his assets.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Party Role
- Defendant
- Party Name
- Raju Sebastian
- Party Age
- 55
- Relation
- S/o
Plaintiffs Documents
Loan application dated 30.06.2021, sanction memorandum, letter of undertaking, agreement cum deed of hypothecation, certified copy of statement of account.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Joy K. George
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff is entitled to recover ₹69,220/- with interest from the defendant.
Evidence:
Hence the court is of the view that the plaintiff is entitled for a decree for recovery of money.
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff is entitled to realize the costs of the suit from the defendant.
Evidence:
The plaintiff is also entitled to realize the costs of the suit from the defendant.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
This document shows the application submitted by the defendant for a loan, which is central to the case.
Reference:
Ext.A1
Document Type:
Process note format for sanction of Guaranteed Emergency Credit Line
Submitted By:
Plaintiff
Relevance:
This document is relevant as it details the terms under which the loan was sanctioned.
Reference:
Ext.A2
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
This document evidences the approval of the loan by the plaintiff bank.
Reference:
Ext.A3
Document Type:
Undertaking Letter from Borrowers
Submitted By:
Plaintiff
Relevance:
This document outlines the undertaking given by the borrower regarding the loan.
Reference:
Ext.A4
Document Type:
Offer letter for Guaranteed Emergency Credit Line
Submitted By:
Plaintiff
Relevance:
This document provides details of the loan offer made to the defendant.
Reference:
Ext.A5
Document Type:
Appendix I to HO Circular
Submitted By:
Plaintiff
Relevance:
This document contains official instructions related to the loan processing.
Reference:
Ext.A6
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
This document outlines the hypothecation agreement executed for the loan.
Reference:
Ext.A7
Document Type:
Particulars of Vehicles/Machinery/Equipments/Livestock hypothecated
Submitted By:
Plaintiff
Relevance:
This document details the assets hypothecated against the loan.
Reference:
Ext.A8
Document Type:
Letter of undertaking re: Loans/Advances
Submitted By:
Plaintiff
Relevance:
This letter serves as a formal undertaking related to the loan.
Reference:
Ext.A9
Document Type:
Pronote
Submitted By:
Plaintiff
Relevance:
This document serves as a promissory note acknowledging the loan obligation.
Reference:
Ext.A10
Document Type:
Take Delivery Letter to DPN
Submitted By:
Plaintiff
Relevance:
This document indicates the delivery of documents related to the loan.
Reference:
Ext.A11
Document Type:
RLLR clause for loan Agreements
Submitted By:
Plaintiff
Relevance:
This clause outlines the interest rate applicable to the loan.
Reference:
Ext.A12
Document Type:
Certified copy of statement of account
Submitted By:
Plaintiff
Relevance:
This statement shows the loan account transactions and outstanding balance.
Reference:
Ext.A13
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kottayam
State
Kerala
Court Establishment
Munsiff Court Kanjirappally
Common Reasons
Recovery of money
Case Code
O.S
Case Code Year
2023