Dr. Srinivas Manchala (Appellant) claimed a coparcenary right over the assets of his deceased mother, Late Smt. Manchala Andalamma, which were reportedly used as security for a loan to M/s. Maruthi Tubes Pvt. Ltd. (Corporate Debtor) by State Bank of India (Financial Creditor). His brother, Mr. Manchala Nagesh Kumar, was a personal guarantor. The Appellant sought to intervene in the Section 95 IBC proceedings initiated against Mr. Manchala Nagesh Kumar, arguing that his coparcenary right made him a necessary party. This claim was supported by the fact that he had also filed an Original Suit No.58/2022 seeking partition of the joint family property, which included the disputed assets. The State Bank of India had initially mistakenly listed the Appellant as a guarantor
…State Bank of India (Respondent No.1/Financial Creditor) provided financial assistance to M/s. Maruthi Tubes Pvt. Ltd. (Respondent No.3/Corporate Debtor).
Mr. Manchala Nagesh Kumar (Respondent No.2) and Late Smt. Manchala Andalamma (mother of the Appellant) stood as personal guarantors for the loan.
A default occurred on 16.09.2022, with an outstanding amount of Rs.5,94,11,895/- due from Respondent No.3.
M/s. Dugar Polymers Ltd. initiated CIRP against Respondent No.3, leading to its admission on 10.11.2021 and subsequent dissolution on 12.08.2024.
State Bank of India filed proceedings under Section 95 of the I & B Code, 2016, against Mr. Manchala Nagesh Kumar, which were admitted by the Adjudicating Authority on 28.01.2026.
…Sign in to view the parties.
OA No.175/2020 was drawn before the Learned DRT…
Late Smt. Manchala Andalamma, mother of the…
Sign in to view related legal provisions.
Dr. Srinivas Manchala (Appellant) claimed a coparcenary right over the assets of his deceased mother, Late Smt. Manchala Andalamma, which were reportedly used as security for a loan to M/s. Maruthi Tubes Pvt. Ltd. (Corporate Debtor) by State Bank of India (Financial Creditor). His brother, Mr. Manchala Nagesh Kumar, was a personal guarantor. The Appellant sought to intervene in the Section 95 IBC proceedings initiated against Mr. Manchala Nagesh Kumar, arguing that his coparcenary right made him a necessary party. This claim was supported by the fact that he had also filed an Original Suit No.58/2022 seeking partition of the joint family property, which included the disputed assets. The State Bank of India had initially mistakenly listed the Appellant as a guarantor
…State Bank of India (Respondent No.1/Financial Creditor) provided financial assistance to M/s. Maruthi Tubes Pvt. Ltd. (Respondent No.3/Corporate Debtor).
Mr. Manchala Nagesh Kumar (Respondent No.2) and Late Smt. Manchala Andalamma (mother of the Appellant) stood as personal guarantors for the loan.
A default occurred on 16.09.2022, with an outstanding amount of Rs.5,94,11,895/- due from Respondent No.3.
M/s. Dugar Polymers Ltd. initiated CIRP against Respondent No.3, leading to its admission on 10.11.2021 and subsequent dissolution on 12.08.2024.
State Bank of India filed proceedings under Section 95 of the I & B Code, 2016, against Mr. Manchala Nagesh Kumar, which were admitted by the Adjudicating Authority on 28.01.2026.
…OA No.175/2020 was drawn before the Learned DRT…
Late Smt. Manchala Andalamma, mother of the…
Sign in to view related legal provisions.