Case Summary
Canara Bank filed a suit against Shiba Garments and its partners for defaulting on loan repayments. The court found the defendants liable for the amount owed to the bank.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants are directed to pay Rs. 6,44,173/- with interest and costs to the plaintiff.
Case Type
Civil Suit
Final Judgment
No
The court ruled in favor of the plaintiff, granting them the amount claimed due to the defendants' failure to repay the loan.
Why Plaintiff Won:
The plaintiff provided reliable evidence proving the defendants' liability.
The plaintiff provided reliable evidence proving the defendants' liability.
Losing Side's Weaknesses:
The plaintiff provided reliable evidence proving the defendants' liability.
The plaintiff provided reliable evidence proving the defendants' liability.
Supporting Evidence
Since the defendant remained ex parte, the evidence adduced by the plaintiff remained unchallenged. I find no reason to disbelieve PW.1. Therefore, I am satisfied that the plaintiff has proved his case by adducing cogent and reliable evidence.
Judgment Evidence:
In the result, the suit is decreed as follows. Defendants are directed to pay an amount of Rs. 6,44,173/- (Rupees Six Lakh Forty Four Thousand One Hundred and Seventy Three only) with interest @ 11.70% per annum from the date of suit till its realization, to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Party Role
- Defendant
- Party Name
- Shiba Garments
- Relation
- Rep. By Managing Partner
- Party Role
- Defendant
- Party Name
- Noushad Ali
- Party Age
- 40
- Relation
- S/o Muhammedkutty
- Party Role
- Defendant
- Party Name
- Noushad Ali
- Party Age
- 40
- Relation
- S/o Muhammedkutty
- Party Role
- Defendant
- Party Name
- Saifunnisa.T.
- Party Age
- 38
- Relation
- W/o Kasim.M.M.
Plaintiffs Documents
Loan application dated 17.06.2015, Sanction Memorandum dated 17.06.2015, Composite Loan Agreement, Guarantee Agreements, copy of registered Lawyer Notice, statement of accounts showing the details of the loan transaction.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. C.M.Venugopalan
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Smt.Sreekala.K.
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Smt. Vinida.P.
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff requested the recovery of Rs. 6,44,173/- with interest.
Evidence:
Defendants are directed to pay an amount of Rs. 6,44,173/- (Rupees Six Lakh Forty Four Thousand One Hundred and Seventy Three only) with interest @ 11.70% per annum from the date of suit till its realization, to the plaintiff.
Relief Type:
Costs
Outcome:
Granted
Description:
The plaintiff was granted costs of the suit.
Evidence:
Defendants are directed to pay costs of the suit to the plaintiff.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
The loan application dated 17.06.2015 was used to establish the loan agreement.
Reference:
Ext.A1
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
The Sanction Memorandum dated 17.06.2015 was relevant to the loan's approval.
Reference:
Ext.A2
Document Type:
Composite Loan Agreement
Submitted By:
Plaintiff
Relevance:
The Composite Loan Agreement dated 17.06.2015 established the terms of the loan.
Reference:
Ext.A3
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
The Guarantee Agreement with Guarantee Covering Letter dated 17.06.2015 outlined the obligation to repay the loan.
Reference:
Ext.A4
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Another Guarantee Agreement with Guarantee Covering Letter dated 17.06.2015 was also part of the evidence.
Reference:
Ext.A5
Document Type:
Registered Lawyer Notice
Submitted By:
Plaintiff
Relevance:
The copy of the registered Lawyer Notice dated 10.01.2018 was submitted as part of the evidence.
Reference:
Ext.A6
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
The statement of accounts showing the details of the loan transaction was provided to support the claim.
Reference:
Ext.A7
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Malappuram
State
Kerala
Court Establishment
Munsiff Court, Tirur / Rent Control Court
Common Reasons
Recovery of money
Case Code
Case between Canara Bank vs Shiba Garments et al regarding realization of money
Case Code Year
Case between Canara Bank vs Shiba Garments et al regarding realization of money