Case Summary
The plaintiff, Canara Bank, filed a suit against the defendants, Soumya S and Somasekharan, for recovery of an educational loan amounting to Rs. 7,04,513 due to default in repayment. The loan was sanctioned for the first defendant's education, with the second defendant as the co-obligant.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendants shall pay to the plaintiff the sum of Rs. 7,04,513 along with interest at the rate of 6% per annum.
Case Type
Civil Suit
Final Judgment
No
The court ruled in favor of the plaintiff, ordering the defendants to pay the outstanding loan amount along with interest. The defendants failed to present evidence to counter the plaintiff's claims.
Why Plaintiff Won:
The plaintiff successfully established its entitlement to the claimed amount with sufficient evidence.
The plaintiff successfully established its entitlement to the claimed amount with sufficient evidence.
Losing Side's Weaknesses:
The plaintiff successfully established its entitlement to the claimed amount with sufficient evidence.
The plaintiff successfully established its entitlement to the claimed amount with sufficient evidence.
Supporting Evidence
The evidence adduced by the plaintiff is trustworthy and sufficient. The defendants, despite opportunity, have not rebutted the plaintiff’s case.
Judgment Evidence:
In the result, the suit stands decreed. It is ordered that the defendants shall pay to the plaintiff the sum of Rs. 7,04,513/- along with interest at the rate of 6% per annum from the date of institution of the suit till the date of realization of the sum.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Party Role
- Defendant
- Party Name
- Soumya S
- Party Age
- 28
- Relation
- D/o
- Party Role
- Defendant
- Party Name
- Somasekharan
- Party Age
- 67
- Relation
- S/o
Plaintiffs Documents
Exhibits A1 to A7 including loan agreements and statement of accounts.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- A J Dominic
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff is entitled to recover the sum loaned along with interest.
Evidence:
Therefore, the plaintiff has succeeded in establishing its entitlement to the plaint claim.
Relief Type:
Interest
Outcome:
Partly Granted
Description:
Interest is awarded on the sum loaned.
Evidence:
the Court holds that 6% per annum simple interest from the date of suit till realisation is fair, reasonable, and legally warranted.
Documents & Evidence
Document Type:
Application for Educational Loan
Submitted By:
Plaintiff
Relevance:
This document indicates the loan amount requested by the defendants.
Reference:
Ext.A1
Document Type:
Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
This document shows the approval of the educational loan by the plaintiff.
Reference:
Ext.A2
Document Type:
Educational Loan Agreement
Submitted By:
Plaintiff
Relevance:
This agreement outlines the terms and conditions under which the educational loan was granted.
Reference:
Ext.A3
Document Type:
Lawyer's Notice
Submitted By:
Plaintiff
Relevance:
This notice was issued to the defendants regarding their default in payment.
Reference:
Ext.A4
Document Type:
Postal Receipts
Submitted By:
Plaintiff
Relevance:
These receipts were obtained for sending the lawyer's notice to the defendants.
Reference:
Ext.A5
Document Type:
Certified Copy of the account
Submitted By:
Plaintiff
Relevance:
This document details the financial status of the loan account and its classification as NPA.
Reference:
Ext.A7
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kottayam
State
Kerala
Court Establishment
Munsiff Court, Kottayam
Common Reasons
Non-payment of rent
Case Code
Case between Canara Bank vs Soumya S et al regarding recovery of money
Case Code Year
Case between Canara Bank vs Soumya S et al regarding recovery of money