Case Summary
This case involves CANARA BANK suing V. K. ASHOKAN for the recovery of a loan amounting to ₹ 1,40,604. The defendant defaulted on the repayment, leading the bank to initiate this suit.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff is entitled to realize an amount of ₹ 1,40,604 with future interest @ 10% per annum from the date of suit till the date of realization.
Case Type
Civil Suit
Final Judgment
No
The suit was decreed in favor of CANARA BANK as the defendant admitted the claim by agreeing to repay the loan amount. The defendant was ordered to pay ₹ 1,40,604 with 10% interest.
Why Plaintiff Won:
The defendant admitted the plaint claim.
The defendant admitted the plaint claim.
Losing Side's Weaknesses:
The defendant admitted the plaint claim.
The defendant admitted the plaint claim.
Supporting Evidence
Since, the defendant has admitted the plaint claim by withdrawing the contentions the suit has to be decreed in favour of the plaintiff.
Judgment Evidence:
In the result, the suit is decreed with costs.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- CANARA BANK
- Party Role
- Defendant
- Party Name
- V. K. ASHOKAN
- Party Age
- 52
- Relation
- S/o
Plaintiffs Documents
Agreement for Agricultural Advances executed by Ashokan, Demand Promissory Note, Acknowledgment of Debt and Security, Copy of Lawyer Notice, Statement of Account issued by Canara Bank.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. A. Santhosh
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Smt. Pooja. A. P
- Appearance Type
- Assisting Counsel
- Party Role
- Defendant
- Advocate Name
- Sri. Hareesh. E. Karayil
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to realize an amount of ₹ 1,40,604/- from the defendant with future interest @ 10% per annum.
Evidence:
The suit is decreed with costs as follows:- The plaintiff is entitled to realize an amount of ₹ 1,40,604/- (Rupees One Lakh Forty Thousand Six Hundred and Four only) from the defendant with future interest @ 10% per annum, from the date of suit till the date of realization.
Documents & Evidence
Document Type:
Agreement for Agricultural Advances
Submitted By:
Plaintiff
Relevance:
Executed by Ashokan. V. K in favour of Plaintiff Bank.
Reference:
Ext.A1
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Executed by Ashokan in favour of Plaintiff Bank.
Reference:
Ext.A2
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Issued by Ashokan to Plaintiff Bank.
Reference:
Ext.A3
Document Type:
Copy of Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Sent by Adv. A. Santhosh to defendant.
Reference:
Ext.A4
Document Type:
Postal receipt
Submitted By:
Plaintiff
Relevance:
Related to the lawyer notice.
Reference:
Ext.A4(a)
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Issued by Canara Bank, Payanthong Branch.
Reference:
Ext.A5
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Munsiff Court, Nadapuram
Common Reasons
Recovery of money
Case Code
Case between CANARA BANK vs V. K. ASHOKAN regarding realization of money
Case Code Year
Case between CANARA BANK vs V. K. ASHOKAN regarding realization of money