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
The suit is decreed directing the defendant to pay a total amount of 7,35,330/- along with interest to the plaintiff. The plaintiff is also entitled to recover costs of litigation.
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.
Losing Side's Weaknesses:
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.
Supporting Evidence
The unchallenged proof affidavit and documents would satisfactorily prove 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
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Sobu N.S
- Party Age
- 34
- Relation
- S/o
Plaintiffs Documents
Sanction Memorandum, Agreement cum deed of Hypothecation, Debt restructuring agreement, Copy of the lawyer notice issued to the defendant, Statement of account bearing A/c no. 43169450001504, Statement of account bearing A/c no. 43169160000781
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- M.K.Dileepan
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- P.Sumithra
- Appearance Type
- Assisting Counsel
- Party Role
- Plaintiff
- Advocate Name
- S.Karthik Menon
- Appearance Type
- Assisting Counsel
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
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Non-payment of rent
Case Code
Case between Canara Bank vs Sobu N.S regarding Suit for money
Case Code Year
Case between Canara Bank vs Sobu N.S regarding Suit for money