DEMAND NOTICE – DEBTS RECOVERY TRIBUNAL, HYDERABAD (DRT-2)
Jun 23, 2026 • Maryam Begum • Legal Announcements / Legal Notices
Source:
The Hans India
This is a formal Demand Notice issued by the Office of the Recovery Officer-I/II, Debts Recovery Tribunal-II, Hyderabad under Sections 25 to 28 of the Recovery of Debts and Bankruptcy Act, 1993 and Rule 2 of the Second Schedule to the Income Tax Act, 1961.
The notice pertains to Recovery Certificate No. RC/73/2026 dated 11.06.2026 in the matter of Union Bank of India vs. M/s. Padma Poultry and Others, arising out of O.A. No. 3476/2017.
An outstanding amount of Rs. 4,98,91,148/- (Rupees Four Crore Ninety Eight Lakh Ninety One Thousand One Hundred Forty Eight Only), along with simple interest at 12% per annum from 28.07.2017 until realization and additional costs of Rs. 2,00,000/-, has been declared recoverable jointly and severally from the concerned defendants.
The notice directs the defaulters to pay the dues within 15 days of receipt. Failure to comply will result in recovery proceedings as per law, including attachment and other enforcement measures. The defendants are also directed to submit an affidavit declaring their assets and appear before the Recovery Officer on 30.07.2026 at 10:30 a.m. for further proceedings.
Issued under the authority and seal of the Tribunal on 11.06.2026.