Kar. Vikas Grameena Bank (Before amalgamation Varada Grameena Bank), Branch office at Mundgod. vs Sri. Vijayan Nayar S/o. Krishnapilai,major,Occ. Vinay Engineering works — 36/2025

Case Summary: Com.O.S.No.10/2025 Court Decision: The suit was partly decreed in favor of Canara Bank (plaintiff). The defendant, Smt. Susama, must repay Rs.7,67,535.28 with interest at 9% per annum from 01-02-2025 until realization—reduced from the bank's claimed 11.15% rate, which the court deemed exorbitant. Key Reasoning: The court found the defendant availed an overdraft loan of Rs.7,00,000 on 17-03-2022, evidenced by her signatures on loan documents (application, sanction letter, cash credit agreement, and promissory note). The defendant's failure to cross-examine the bank's sole witness left the bank's evidence unchallenged and unrebutted, strengthening the plaintiff's case. This case analysis is maintained by casestatus.in based on publicly available court records.