Case Summary
Canara Bank is suing Sabarinatha.S and others for the recovery of a loan amount. The defendants defaulted on their repayment obligations for an educational loan taken for B.Tech studies.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Rs.5,64,731.62/- with interest at the rate of 10.70% per annum compounded monthly rests from the date of suit and at the rate of 6% per annum from the date of decree till realisation.
Case Type
Civil Suit
Final Judgment
No
The court ruled in favor of the plaintiff, ordering the defendants to repay the loan amount along with interest. The suit was decreed with costs awarded to the plaintiff.
Why Plaintiff Won:
The defendants failed to provide sufficient evidence to counter the plaintiff's claim.
The defendants failed to provide sufficient evidence to counter the plaintiff's claim.
Losing Side's Weaknesses:
The defendants failed to provide sufficient evidence to counter the plaintiff's claim.
The defendants failed to provide sufficient evidence to counter the plaintiff's claim.
Supporting Evidence
The deposition of PW1 coupled with Ext. A1 to A7 documents would prove the plaint claim. There is no contra evidence to prove otherwise.
Judgment Evidence:
In the result, the suit is decreed with costs as follows:- The plaintiff is entitled to realise an amount of Rs.5,64,731.62/- with interest at the rate of of 10.70% per annum compounded monthly rests from the date of suit and at the rate of 6% per annum from the date of decree till realisation with costs, from the defendants and their assets.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- represented by its Manager Vishak.S
- Party Role
- Defendant
- Party Name
- Sabarinatha.S
- Party Age
- 24
- Relation
- S/o Sethunathan.T
- Party Role
- Defendant
- Party Name
- Sethunath.T
- Party Age
- 54
- Relation
- S/o Thankappan Pillai
- Party Role
- Defendant
- Party Name
- Ambika.P.
- Party Age
- 45
- Relation
- W/o Sethunatha.T
Plaintiffs Documents
20-01-2014 Loan Agreement, 20-01-2014 Guarantee Agreement, 24-05-2019 Office copy of Lawyer's Notice.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- P.Udayabhanu
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Babitha.S
- Appearance Type
- Assisting Counsel
- Party Role
- Defendant
- Advocate Name
- Bose Vincent
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff is entitled to realise an amount of Rs.5,64,731.62 with interest from the defendants.
Evidence:
Hence the plaintiff is entitled to realize an amount of Rs.5,64,731.62- (Rupees Five Lakh Sixty Four Thousand Seven Hundred and Thirty One and Sixty two Paise only) with interest at the rate of 10.70% per annum compounded with monthly rests from the defendants and their assets.
Documents & Evidence
Document Type:
Loan Agreement
Submitted By:
Plaintiff
Relevance:
Document shows that the defendants had availed an education loan of Rs. 4,00,000/- from the plaintiff bank and agreed to repay the same with interest.
Reference:
Ext.A1
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Document shows that the defendants 2 and 3 are the guarantors of the education loan.
Reference:
Ext.A2
Document Type:
Original Guarantee Covering Letter
Submitted By:
Plaintiff
Relevance:
Related to the guarantee provided for the loan.
Reference:
Ext.A3
Document Type:
Office copy of Lawyers notice
Submitted By:
Plaintiff
Relevance:
Document evidences the notice sent to the defendants demanding repayment of the loan.
Reference:
Ext.A4
Document Type:
Postal Receipts
Submitted By:
Plaintiff
Relevance:
Receipt indicating the postal service used for sending the notice.
Reference:
Ext.A5
Document Type:
Acknowledgment card
Submitted By:
Plaintiff
Relevance:
Document proving that the notice was received by the defendants.
Reference:
Ext.A6
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Document detailing the account status of the loan, evidencing the amount owed.
Reference:
Ext.A7
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 Sabarinatha.S et al regarding Realisation of Money
Case Code Year
Case between Canara Bank vs Sabarinatha.S et al regarding Realisation of Money