Case Summary
The plaintiff, Canara Bank, is seeking recovery of a loan amount from the defendant, M/s ARC Render, who has defaulted on repayment. The court considered the evidence and found the defendant liable for the outstanding loan.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff is entitled to realise an amount of Rs.7,90,022/- with interest at the rate of 11% per annum.
Case Type
Civil Suit
Final Judgment
No
The court decreed in favor of the plaintiff, allowing them to recover the outstanding loan amount with interest. The plaintiff was entitled to costs.
Why Plaintiff Won:
The evidence presented by the plaintiff clearly established the defendant's indebtedness.
The evidence presented by the plaintiff clearly established the defendant's indebtedness.
Losing Side's Weaknesses:
The evidence presented by the plaintiff clearly established the defendant's indebtedness.
The evidence presented by the plaintiff clearly established the defendant's indebtedness.
Supporting Evidence
The oral as well as documentary evidence adduced from the side of plaintiff bank clearly established that the defendant is indebted to the plaintiff bank.
Judgment Evidence:
In the result, the suit is decreed with costs. The plaintiff is entitled to realise an amount of Rs.7,90,022/- with interest at the rate of 11% per annum from the date of the suit till the date of decree and at the rate of 6% per annum from the date of decree till realisation with costs.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- M/s Canara Bank
- Relation
- represented by its Manager
- Party Role
- Defendant
- Party Name
- M/s ARC Render
- Party Age
- 30
- Relation
- represented by its Proprietor
Plaintiffs Documents
Loan application dated 19/07/2022, sponsor letter from District Industries Centre dated 30/05/2022, Udayam Registration Certificate dated 01/06/2022, acknowledgment certificate dated 01/06/2022, certificate from Toonic Animations dated 10/01/2022, quotations dated 02/05/2022, rent deed dated 04/05/2022, loan sanction letter dated 19/07/2022, agreement cum deed of hypothecation dated 19/07/2022, letter of undertaking dated 19/07/2022, office copy of advocate’s notice dated 16/11/2024, postal receipt, statement of account.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- I. Sowfiuar
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- U.Ullas Kumar
- Appearance Type
- Assisting Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff entitled to recover an amount of Rs.7,90,022/- from the defendant.
Evidence:
Hence, the plaintiff is entitled to realise an amount of Rs.7,90,022/- (Rupees Seven Lakhs Ninety Thousand and Twenty Two only) from the defendant and his assets with interest thereon at the rate of 11% per annum from the date of the suit till the date of decree with the cost of this suit.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Proves the execution of the loan agreement by the defendant.
Reference:
Ext.A1
Document Type:
Sponsor letter
Submitted By:
Plaintiff
Relevance:
Supports the plaintiff's claim regarding the loan disbursement.
Reference:
Ext.A2
Document Type:
Udayam Registration Certificate
Submitted By:
Plaintiff
Relevance:
Related to the defendant's business documentation.
Reference:
Ext.A3
Document Type:
Acknowledgment certificate
Submitted By:
Plaintiff
Relevance:
Documents acknowledgment as part of the loan process.
Reference:
Ext.A4
Document Type:
Certificate from Toonic Animations
Submitted By:
Plaintiff
Relevance:
Indicates the defendant's business engagements related to the loan.
Reference:
Ext.A5
Document Type:
Quotations
Submitted By:
Plaintiff
Relevance:
Relates to the business expansion for which the loan was taken.
Reference:
Ext.A6
Document Type:
Rent Deed
Submitted By:
Plaintiff
Relevance:
Establishes the premises for the defendant's business.
Reference:
Ext.A7
Document Type:
Loan Sanction Letter
Submitted By:
Plaintiff
Relevance:
Confirms the disbursement of the loan amount to the defendant.
Reference:
Ext.A8
Document Type:
Agreement cum deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
Details the terms and conditions of the loan agreement.
Reference:
Ext.A9
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
Further outlines the defendant's commitment to repay the loan.
Reference:
Ext.A10
Document Type:
Office copy of Lawyer’s Notice
Submitted By:
Plaintiff
Relevance:
Serves as proof of the demand made for repayment.
Reference:
Ext.A11
Document Type:
Postal receipt
Submitted By:
Plaintiff
Relevance:
Confirms the sending of the legal notice to the defendant.
Reference:
Ext.A12
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Details the outstanding amount due from the defendant.
Reference:
Ext.A13
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kollam
State
Kerala
Court Establishment
Munsiff Court Kollam
Common Reasons
Recovery of money
Case Code
Case between M/s Canara Bank vs M/s ARC Render regarding realisation of money.
Case Code Year
Case between M/s Canara Bank vs M/s ARC Render regarding realisation of money.