Allowed

Hdfc Bank Limited. v. M/s. Phoenix Plastowares Pvt. Ltd.

DRT21 Jul 2026OA/615/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal-II, Hyderabad, allowed an original application filed by HDFC Bank for recovery of Rs. 487,93,674.68 with future interest and costs from five defendants ex-parte. The court held the defendants jointly and severally liable and directed issuance of a recovery certificate.

What did the court decide?

Defendants are jointly and severally liable to pay Rs. 4,87,93,674.68 with future interest @9.55% p.a., costs; mortgage secured; recovery certificate issued.

Hdfc Bank Limited. versus M/s. Phoenix Plastowares Pvt. Ltd. — Execution and Attachment | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRiBUNAL-II^{AT HYDERABAD} DATED THIS THE 215T DAY OF^JULY,2026

¶2

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

¶3

ORIGINAL APPLICATION^NO: 615 0F 2025

¶4

HDFC Bank Limited.,

¶5

Bank House, Department^{for Special} Operations, H.No.6-3-246^{& 6-3-2441 A} 3'd Floor, Roxana^{Palladium, RoadNo.1} Banjara Hills, Hyderabad^{- 500034.} Rep. by its Authorized Signatory.

¶6

.... .Applica nt.

¶7

Versus .

¶8

M/s. Phoenix^{PlastowaresPvt. Ltd.,} Rep by its Directors,^2A-500,Lodha Belleza, Kukatpally^{MainRoad, Medchal} Malkajgiri District,^{Telanganastate-500072.}

¶9

Also at:-

¶10

Sy.No.30/5, 30/EE,^{SRPProPerties} Logistics Park, Manoharabad,^Medak Telanga na state - 502336.

¶11

M/s. First Care^{India Pvt. Ltd.,} Having its Registered^{Office at} H. No.6- 106/3,^{Jeedimetla Village} Quthbullapur^{14andal,RangaReddY} District - 500067,^{Telanganastate.}

¶12

Mr. Reddybathula^{Srinivasa Reddy} Door No.2-41, Prath^{uru TadePalli} Gu ntur District,^{Andhra Pradesh-522501'}

¶13

Mr. Harsha Vardhan^{Reddy Reddybathula} S/o. Mr. Reddybathula^{Srinivasa Reddy} Door No.2-41, Prathuru^TadePalli Guntur District,^{Andhra Pradesh-522501.}

No'*

oA.NO.61sl2025

f4r. Naga Sai Krishna Sighakolli S/o. Sambasiva Rao Sighakolli F. No.500, Btock 2A, Lodha Belteza Phase-IV, Kukatpally, Medchal I\4alkajgiri District, Tetangana state-500072.

¶18

. .. Defenda nts

¶19

Cou nsel for the Applicant Defendants

¶20

Mr. Alluri Krish na m Raju

¶21

Ex- pa rte

¶22

:: ORDER ::

¶23

The Applicant Bank filed the present OA for the recovery a total sum of Rs.4,87 ,93,674.68ps as on 31.05.2025 from the defendants jointly and severally with future interest @1golo p.a. with monthly rests from 01.06.2025 till the date of realization along with costs and in default for sale of OA schedule properties.

¶24

Summons served on D1, 3. 4 and 5, whereas summons served on D2 through paper publication. They were set ex_parte on 14.10.2025 as called absent and no representation.

¶25

The Applicant Bank examined Y Murlidha r Reddy, Assistant Manager, as AW-1 and marked 13 documents through him as Ex. A.1 to Ex. A.13.

¶26

Heard the Ld. Counsel for the Applicant Bank. perused the material placed on record.

¶27

The point that arises for consideratjon is:_

¶28

Whether the Applicant Bank is entitted for the claim made in the OA against the Defendants and OA schedule properties? fu.rU

¶29

oA.NO.615/2025

¶30

As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.13 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.

¶31

In the result, the^present Original Application No.615/2025 is allowed as under: -

¶32

i) The Defendants are^jointly and severally liable to pay to the Applicant Bank a sum of Rs.4,87 ,93,674.68ps with future interest @9.55%^p.a. simple from the date^of application till the date of realization;

¶33

ii) the OA claim is secured by way of mortgage of properties described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debt;

¶34

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

¶35

iv) the applicant bank is entitled for the costs.

¶36

The Applicant Bank is directed to file Cost Memo within 2 weeks rrom rhe date or receipt or this order.4f(l.)!

¶37

¶38

oA,NO.615/2025

¶39

Issue Recovery Certificate according ly.

¶40

Communicate a copy of thls order to the parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 21'r Day of luly, 2026).

¶41

PRESIDING OFFICER

Hdfc Bank Limited. v. M/s. Phoenix Plastowares Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

Hdfc Bank Limited. v. M/s. Phoenix Plastowares Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Ms St Daniel Christian Minority Educational Society versus Canara Bank

D Anjaiah versus Smfg India Home Finance Co. Ltd.

J Balaji Alias Jonnalagadda Balaji versus Shriram Finance Limited

B Sravan Kumar versus Tata Capital Housing Finance Ltd. and Others

Gutha Prabhakar Reddy versus Ms Phoenix Arc Private Ltd. and Others

Mr Mohammed Sami versus Kotak Mahindra Bank Limited