Allowed

Hdfc Bank Ltd. v. M/S. 3C Pharmaceuticals Pvt. Ltd.

DRT20 Jun 2025OA/301/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's original application for recovery of Rs. 74,08,266.04 from four respondents jointly and severally, with future interest and costs, directing issuance of a Recovery Certificate.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 74,08,266.04 with future interest at 10.60% p.a.; Recovery Certificate issued.

Hdfc Bank Ltd. versus M/S. 3C Pharmaceuticals Pvt. Ltd. — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-iI AT HYDERABAD

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DATED THIS THE 2OTH DAY OF JUNE, 2025

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PRESENT: SH. RAMESHWAR KOTHE,^{B.COM.,L.LB. (HONS,), M.A.} PRESIDING OFFICER

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ORIGINAL APPLICATION No: 301^{OF 2023}

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H DFC BanK Ltd., H.aving its_oFfice.at # 1- 10-60/3 J " l-loor, Suryooaya Lomplex Begumpet, Hyderabad - 500016 Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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lY/s. 3C Pharmaceuticals Pvt.Ltd., Office at 253lC, Opp: Anjaneya Temple, Near l4ain Road, S.R Nagar Hydera bad - 500038.

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Also at:-

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lvl/s. 3C Pharmaceuticals Pvt. Ltd., C/o. Flat No.203, Saptagiri Apts, Anjaneya Nagar, I4oosapet, Hydera bad - 500018,

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M r. Patil Srinivas Reddy, S/o. Varada Reddy, Aged about 54 Years, Occ: Director of lvl/s. 3C Pharmaceuticals Pvt. Ltd., R/o. H. No.7- 1-300, Green Park Residnecy, S R Nagar, Ameerpet, Hyderabad - 500038,

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Also at:-

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[4/s. 3C Pharmaceuticals Pvt, Ltd., C/o. 253/C, Opp: Anjaneya Temple, Near Main Road, S.R Nagar Hyderabad - 500038.

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3, Mr.D.Vijaya Bhaska r Reddy, S/o. Chinna Linga Reddy, Aqed about 54 Years, Occ: Business, /tu4j$

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Ll^$'

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oA.NO.301/2023

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R/o. H. No.76-97-439-5-55- B, L Venkataiah Nagar, Near Radio Station, Kallur, Kurnool District-518003.

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lYr. Madinen i Srinivas, S/o.Ramchander, Aged about 38 Years, Occ: Business, R/o. H. No.3-3-586/3 B, Sai Nagar, Near Bus Stand, Gayatri Nagar, Nizamabad - 503001.

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... Defenda nts

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Counsel for the Applicant : tvl/s. M.srinivas Reddy Defendants : Ex-parte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.74,08,266.04ps i.e., a sum of Rs.7,86,282.05ps towards A/c.No.65006590 and a sum of Rs.66,21,983.99ps towards A/c. Nos.84362281 & 8295772 from the defendants jointly and severally with future interest @18o/o p.a. from the date of application till the date of realization along with costs and in default for sale of OA schedule property.

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z. Summons served on D1 and 2 through paper publication, whereas Summons served on D3 and 4. They were set ex-parte on 24.77.2023 as called absent and no representation.

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The Applicant Bank examined Sumaya Shaik, Legal Manager, as AW-1 and marked 20 documents through her as Ex. A.1 to Ex. A.20.

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Ld. Counsel for the Applicant Bank reported orders may be passed through merits. Perused the mat-efial placed on record. ffiu*

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oA.NO.301/2023

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The^point that arises for consideration is:-

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Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA schedule propefty?

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As stated supra, the Defendants remained ex-parte.^The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.20 marked on behalf of the Applicant^Bank clinches the claim of the Applicant Bank against the^Defendants. Hence, I hold that the Defendants are^jointly and severally^liable to^pay the OA claim to the Applicant Bank with future^interest and costs.

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In the result, the^present original Application No.301/2023^is allowed as under: -

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i) The Defendants are^jointly and severally liable to pay to the Applicant Bank a total sum of Rs.74,08,266.04ps i.e., the defendants 1 & 2 are^jointly and severally liable to pay a sum of Rs.7,86,282.0sps towards A/c.No.65006590 and the defendants 3 & 4 are^jointly and severally liable to pay a sum of Rs.66,21,983.99ps towards A/c. Nos.84362287 & 8295772 with future interest @10.60lo^p.a. simple from the date of application till the date of realization;

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ii) the OA claim is secured by way of mortgage of^property described in the schedule /h

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(/w*o

oA.NO.301/2023

annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debt;

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iii) the applicant bank is also entitled to proceed against the person and properties of defendants for realization of its dues;

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iv) the applicant bank is entitled for the costs.

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B. The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

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Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 20'h DaY of June' 2025)'

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...;rvl,urn,_-- . c )-.u i | /, e-- !i''"?,^', (RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. M/S. 3C Pharmaceuticals Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. M/S. 3C Pharmaceuticals Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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