InfraLive September-15, 2025

DRT Order Exposes Sashidhar www.infralive.com 16 InfraLIVE September 15, 2025 to be rejected. The Applicant has proved its case. The Original Application therefore is liable to be allowed, but as against Guarantors only to the extent of guarantees given by them. Hence, following order; ORDER A) The Original Application is allowed with costs against Defendant Nos. l to 3 &with no order as to costs as against Defendant Nos. 4 to 7. B) The Defendant Nos. l to 3 do jointly and severally pay to the Applicant Rs 14,74,51,929.35 (Rs Fouteen Crores Seventy Four Lacs Fifty One Thousand Nine Hundred Twenty Nine and Paise Thirty Five only) with interest @16% p.a. from the date of filingOriginalApplication till full realisation. From out of aforesaid amount, following Defendants (jointly and severally inter se and with Defendant Nos. l to 3) do pay the Applicant the amounts mentioned against themwith interest as above; (i) Defendant Nos. 4 & 5 Rs 6,75,00,000 (Rs Six Crores Seventy Five Lacs only) with interest as above; (ii) Defendant No. 6 Rs 8,75,00,000 (Rs Eight Crores Seventy Five Lacs only) with interest as above; (iii) Defendant No. 7 Rs.2,00,00,000 (Rs Two Crores only) with interest as above. C) It is declared that outstandings are secured by Equitable Mortgage of Defendant No. l's property mentioned below in which Defendant Nos. 8 to 21 are ranking pari pasu;. Gala No. 301 to 304, 306, 308, 310, 314 & 316 including fixed Plant & Machinery lying therein and situated at Goregaon, Mumbai. D) Charge of the outstanding amount is on below noted movables on which Defendant Nos. 8 to 21 are ranking pari pasu; The movable properties consists of stocks of rawmaterials stocks in process, semi-finished and finished goods, stores and spares (not relating to Plant & Machinery consumable stores and spares) Bills receivable and book debts and all other moveables, both present and future. E) Issue Recovery Certificate accordingly.