Case Summary
M/s Canara Bank filed a suit against Ajesh M S and others for the realization of money due under various loans. The defendants defaulted in repayment, leading to the suit being decreed in favor of the plaintiff.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.5,26,264.44/- along with interest and costs of the suit.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
Plaintiff established a case substantiated by unchallenged evidence and documentation.
Plaintiff established a case substantiated by unchallenged evidence and documentation.
Judgment Evidence:
In the result, suit is decreed as follows: 1) Defendants shall pay Rs.5,26,264.44/- (Rupees Five lakhs twenty six thousand two hundred and sixty four and forty four paise only) along with interest @10.75 % per annum from the date of suit till the date of decree.
Parties Involved
Plaintiffs
M/s Canara Bank (Age not specified years)
Edappally Branch, Ground Floor, Pathadippalam Metro Station, Edappally, Ernakulam
Defendants
Ajesh M S (42 years)
Methassery House, Kadakkara Road, Edavanakkad, Ernakulam-682502
Rony John (39 years)
‘ Vettikkattu ’ House, Koothattukulam P O, Ernakulam
Bennet T C (56 years)
‘ Thaipparambil ’ House, Mamangalam, Palarivattom P O, Kochi- 682025
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff's entitlement to recover Rs.5,26,264.44/- with interest.
Evidence:
By virtue of Exts.A4 and A5, it is evident that the existing working capital is renewed.
Relief Type:
Other
Outcome:
Granted
Description:
Defendants shall be personally and their assets liable to satisfy the decree debt.
Evidence:
Defendants shall be personally and their assets shall also be liable to satisfy the decree debt.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff entitled to realize costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Executed by the 1st defendant in favour of M/s Syndicate Bank for securing the loan.
Reference:
Ext.A1
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Promissory note executed by the 1st defendant in favour of M/s Syndicate Bank for the loan amount.
Reference:
Ext.A2
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Executed by the 2nd and 3rd defendants to guarantee the loan for the 1st defendant.
Reference:
Ext.A3
Document Type:
Composite Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Executed by the 1st defendant in favour of M/s Syndicate Bank for the renewed working capital loan.
Reference:
Ext.A4
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Executed by the 2nd and 3rd defendants for the renewed loan.
Reference:
Ext.A5
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Shows the loan account details and payment irregularities.
Reference:
Ext.A6
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Copy of the loan account statement for another loan of the defendants.
Reference:
Ext.A7
Document Type:
Copy of Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Notice issued to the defendants demanding repayment.
Reference:
Ext.A8
Document Type:
Returned Postal envelope
Submitted By:
Plaintiff
Relevance:
Envelope indicating non-service of the notice to the 1st defendant.
Reference:
Ext.A9
Document Type:
Returned Postal envelope
Submitted By:
Plaintiff
Relevance:
Returned envelope for notices sent to the defendants.
Reference:
Ext.A10
Document Type:
Returned Postal envelope
Submitted By:
Plaintiff
Relevance:
Another returned envelope for a notice sent to the defendants.
Reference:
Ext.A11
Document Type:
Certified copy of amalgamation notification
Submitted By:
Plaintiff
Relevance:
Notification of the amalgamation of M/s Syndicate Bank with M/s Canara Bank.
Reference:
Ext.A12