Case Summary
The plaintiff, Canara Bank, is seeking repayment of loans from the defendant, Sobu N.S, who failed to repay amounts due under an overdraft and term loan agreements. The court has ruled in favor of the plaintiff after the defendant did not appear in court.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant to pay a total amount of 7,35,330/- with interest.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The unchallenged proof affidavit and documents provided by the plaintiff satisfactorily proved the plaint claim.
The unchallenged proof affidavit and documents provided by the plaintiff satisfactorily proved the plaint claim.
Judgment Evidence:
In the result, The suit is decreed directing the defendants to pay an amount of 7,35,330/- with 9% interest per annum on the principal amount.
Parties Involved
Plaintiffs
Canara Bank (Age not specified years)
Head office at 112, J.C, road, Bangalore – 560 002, Karnatatka State
Defendants
Sobu N.S (34 years years)
21/461 P, Market road, Tripunithura, Pin – 682 301, Nellikkal house, MLA road, Manakunnam village, South Paravoor post, Pin – 682 307
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff bank's request for recovery of outstanding loan amounts.
Evidence:
The plaintiff bank is entitled for a decree for realization of the amounts due under the loan accounts as prayed for herein.
Relief Type:
Interest
Outcome:
Partly Granted
Description:
Interest on the principal amounts outstanding.
Evidence:
The plaintiff is entitled to recover the decree amount from the defendant and from his assets with post decretal interest @ 6% per annum.
Documents & Evidence
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Document evidencing the sanction of the working capital term loan.
Reference:
Ext.A1
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Agreement securing the working capital term loan facility.
Reference:
Ext.A2
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Document evidencing the sanction of the term loan after restructuring.
Reference:
Ext.A3
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Agreement securing the term loan facility post restructuring.
Reference:
Ext.A4
Document Type:
Debt Restructuring Agreement
Submitted By:
Plaintiff
Relevance:
Agreement outlining the terms for restructuring the loan.
Reference:
Ext.A5
Document Type:
Copy of the lawyer notice
Submitted By:
Plaintiff
Relevance:
Notice issued to the defendant for recovery of outstanding amounts.
Reference:
Ext.A6
Document Type:
A/d card of the lawyer notice
Submitted By:
Plaintiff
Relevance:
Acknowledgment of receipt of the lawyer notice by the defendant.
Reference:
Ext.A7
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Statement of account for the term loan showing outstanding balance.
Reference:
Ext.A8
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Statement of account for the working capital term loan showing outstanding balance.
Reference:
Ext.A9