Case Summary
M/s. Canara Bank filed a suit against Sanal Soman for the recovery of an outstanding loan amount of Rs.2,90,598.91. The defendant failed to repay the loan despite acknowledgment of debt.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff bank is allowed to recover Rs.2,90,598.91 together with interest at the rate of 9% per annum from the date of suit till the date of decree.
Case Type
Civil Suit
Final Judgment
No
The suit is decreed in favor of the plaintiff bank, allowing them to recover the outstanding loan amount with interest. The court found the plaintiff's claims to be substantiated.
Why Plaintiff Won:
The plaintiff bank substantiated its claims through unrebutted evidence and proper documentation.
The plaintiff bank substantiated its claims through unrebutted evidence and proper documentation.
Losing Side's Weaknesses:
The plaintiff bank substantiated its claims through unrebutted evidence and proper documentation.
The plaintiff bank substantiated its claims through unrebutted evidence and proper documentation.
Supporting Evidence
Hence the plaintiff bank is entitled to get a decree as prayed for.
Judgment Evidence:
In the result, suit is decreed as follows: A) The plaintiff bank is allowed to recover 2,90,598.91 together with interest at the rate of 9% per annum from the date of suit till the date of decree.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- M/s. Canara Bank
- Relation
- represented by its Manager & Principal Officer
- Party Role
- Defendant
- Party Name
- Sanal Soman
- Party Age
- 29
Plaintiffs Documents
Receipt dated 22.01.2016, Composite hypothecation agreement dated 22.01.2016, Acknowledgment of debt dated 01.01.2019, True copy of lawyer notice dated 18.05.2022.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- B.Jayaprakash
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Renju John
- Appearance Type
- Assisting Counsel
- Party Role
- Plaintiff
- Advocate Name
- Suja.R.Nair
- Appearance Type
- Assisting Counsel
- Party Role
- Plaintiff
- Advocate Name
- Thresia Anu P.J.
- Appearance Type
- Assisting Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff bank is allowed to recover the total dues from the defendant.
Evidence:
The plaintiff bank is allowed to recover 2,90,598.91 together with interest at the rate of 9% per annum from the date of suit till the date of decree, and thereafter @ 6% per annum from the date of decree till entire realization in full from the defendant and his assets.
Relief Type:
Damages
Outcome:
Granted
Description:
Plaintiff bank is entitled to the costs of the suit.
Evidence:
The plaintiff bank is also entitled to get the costs of the suit from the defendant.
Documents & Evidence
Document Type:
Receipt
Submitted By:
Plaintiff
Relevance:
Evidence of the amount the defendant availed from erstwhile Syndicate Bank.
Reference:
Ext.A1
Document Type:
Composite Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Details the terms under which the defendant borrowed money for purchasing an autorickshaw.
Reference:
Ext.A2
Document Type:
Computer print out of statement of accounts
Submitted By:
Plaintiff
Relevance:
Provides account statements related to the loan from 01.01.2012 to 13.05.2022.
Reference:
Ext.A3
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Records the defendant's acknowledgment of his debt to erstwhile Syndicate Bank.
Reference:
Ext.A4
Document Type:
Acknowledgment of Debt and Security
Submitted By:
Plaintiff
Relevance:
Another acknowledgment of debt from the defendant to the plaintiff bank.
Reference:
Ext.A5
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Notifies the defendant regarding his outstanding liability.
Reference:
Ext.A6
Document Type:
Returned Postal envelope
Submitted By:
Plaintiff
Relevance:
Evidence that the registered lawyer notice sent to the defendant was returned unserved.
Reference:
Ext.A7
Document Type:
Gazette notification
Submitted By:
Plaintiff
Relevance:
Confirms the amalgamation of Syndicate Bank with Canara Bank.
Reference:
Ext.A8
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Recovery of money
Case Code
Case between M/s. Canara Bank vs Sanal Soman regarding realisation of money
Case Code Year
Case between M/s. Canara Bank vs Sanal Soman regarding realisation of money