Case Summary
M/S Canara Bank filed a suit against Pearly Jerry and Rajesh N. Nair for the realization of loan repayment. The defendants defaulted on their repayment obligations concerning a loan taken for business purposes.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.6,53,348.53/- along with interest @11% per annum from 26.11.2022 till the date of decree and 6% from the date of decree till payment or realization.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff established the case with credible evidence and proved the defendants' default in repayment.
The plaintiff established the case with credible evidence and proved the defendants' default in repayment.
Judgment Evidence:
In the result, suit is decreed as follows: 1) Defendants shall pay Rs.6,53,348.53/- along with interest @11% per annum from 26.11.2022 till the date of decree and 6% from the date of decree till payment or realization, as the case may be, to plaintiff.
Parties Involved
Plaintiffs
M/S Canara Bank (Age not specified years)
Kakkanad Branch II, Josh Towers, Padamugal Colony Junction, Vazhakkala, Kakkanad, Kochi – 682 030
Defendants
Pearly Jerry (58 years)
Flat No.6B, ‘Neerakkal’ House, Trans Avenue, Mavelipuram, Kakkanad, Kochi – 682 030
Rajesh.N.Nair (42 years)
‘Kapplingattu’ House, Idiyanal, Kottayam, Pin – 686 576
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants shall pay Rs.6,53,348.53/- along with interest.
Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.6,53,348.53/- (Rupees Six lakhs fifty three thousand three hundred and forty eight and fifty three paise only) along with interest ...
Relief Type:
Other
Outcome:
Granted
Description:
Defendants shall be personally and their assets shall also be 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 is also entitled to realize the costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Composite Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Executed by the first defendant in favour of M/S Syndicate Bank.
Reference:
Ext.A1
Document Type:
Receipt
Submitted By:
Plaintiff
Relevance:
Receipt for Rs.5,00,000/- issued by D1 in favour of the plaintiff.
Reference:
Ext.A2
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Guarantee Agreement executed by D2.
Reference:
Ext.A3
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Certified copy of statement of account of defendant’s loan account.
Reference:
Ext.A4
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Acknowledgment of debt executed by D1.
Reference:
Ext.A5
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Acknowledgment of debt and security executed by D1.
Reference:
Ext.A6
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Acknowledgment of debt and security executed by D1.
Reference:
Ext.A7
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Copy of lawyer notice issued to defendants.
Reference:
Ext.A8
Document Type:
Returned Postal cover
Submitted By:
Plaintiff
Relevance:
Returned postal cover of D1.
Reference:
Ext.A9
Document Type:
Returned Postal envelope
Submitted By:
Plaintiff
Relevance:
Returned postal envelope of D2.
Reference:
Ext.A10