Case Summary
This suit involves Canara Bank as the plaintiff seeking to recover a loan amount from Surendran K, the defendant, who defaulted on repayment. The plaintiff claims that the defendant failed to repay the sanctioned loan taken for his business.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant is directed to pay an amount of Rs.13,39,333.48 with 9% interest per annum from the date of suit till the date of decree and thereafter @ 6% per annum till realization.
Case Type
Commercial Suit
Final Judgment
No
The court decreed in favour of the plaintiff, ordering the defendant to pay a total of Rs.13,39,333.48 along with interest until realization. The plaintiff is also entitled to recover the costs of the suit.
Why Plaintiff Won:
The plaintiff successfully proved that the defendant defaulted on the loan repayment through unchallenged evidence and documented acknowledgments of debt.
The plaintiff successfully proved that the defendant defaulted on the loan repayment through unchallenged evidence and documented acknowledgments of debt.
Losing Side's Weaknesses:
The plaintiff successfully proved that the defendant defaulted on the loan repayment through unchallenged evidence and documented acknowledgments of debt.
The plaintiff successfully proved that the defendant defaulted on the loan repayment through unchallenged evidence and documented acknowledgments of debt.
Supporting Evidence
By the unchallenged evidence of PW1 coupled with documentary evidence, I find that the defendant has defaulted in repaying the loan amount.
Judgment Evidence:
In the result, the suit is decreed as follows: (1) The defendant is directed to pay an amount of Rs.13,39,333.48 with 9% interest per annum from the date of suit till the date of decree and thereafter @ 6% per annum till realization.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Party Role
- Defendant
- Party Name
- Surendran K
- Party Age
- 55
- Relation
- S/o
Plaintiffs Documents
Loan sanction memorandum, Agreement cum deed of hypothecation, Copy of lawyer notice, Acknowledgment card, Acknowledgment of debt, Account statement, Non starter report
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Smt.Lissy K.K
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Sri.Abdul Gamal Nazar
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendant is directed to pay an amount of Rs.13,39,333.48 with interest and costs.
Evidence:
In the result, the suit is decreed as follows: (1) The defendant is directed to pay an amount of Rs.13,39,333.48 with 9% interest per annum from the date of suit till the date of decree and thereafter @ 6% per annum till realization.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff is entitled to realise the costs of the suit.
Evidence:
(2) The plaintiff is also entitled to realise the costs of the suit.
Documents & Evidence
Document Type:
Loan Sanction Memorandum
Submitted By:
Plaintiff
Relevance:
Document issued by the plaintiff bank at the time of granting the loan to the defendant.
Reference:
Ext.A1
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Agreement executed by the defendant in favor of the plaintiff bank at the time of loan granting.
Reference:
Ext.A2
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Notice issued by the plaintiff to call upon the defendant to repay the outstanding amount.
Reference:
Ext.A3
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Documents executed by the defendant acknowledging his liability towards the bank.
Reference:
Ext.A5 to A6
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
Statement showing the balance outstanding in the loan account of the defendant.
Reference:
Ext.A7
Document Type:
Non Starter Report
Submitted By:
Plaintiff
Relevance:
Report related to the defendant's loan account status.
Reference:
Ext.A8
Case Classification
Case Type
Commercial Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Commercial Court Kozhikode
Common Reasons
Non-payment of rent
Case Code
Case between Canara Bank vs Surendran K regarding realisation of money.
Case Code Year
Case between Canara Bank vs Surendran K regarding realisation of money.