# M/s. Global Enterprise and Another vs. Suvarnabhoomi Infra Developers Pvt Ltd

> NCLT judgment dated 2026-07-07. Citation: TCN-2026-NCLT-00794. The Corporate Insolvency Resolution Process (CIRP) was initiated against Suvarnabhoomi Infra…

- **Court:** NCLT
- **Order date:** 7 Jul 2026
- **Citation:** TCN-2026-NCLT-00794
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-amaravati/ms-global-enterprise-and-another-vs-suvarnabhoomi-infra-developers-pvt-ltd-tb7l3

## Summary

### Background

The Corporate Insolvency Resolution Process (CIRP) was initiated against Suvarnabhoomi Infra Developers Pvt Ltd, and an Interim Resolution Professional (IRP) was appointed. Following the commencement of CIRP and the imposition of a moratorium, the Suspended Director, Mr. Sridhar Bollineni, transferred a total of Rs. 63,92,500/- from the Corporate Debtor's bank account. The IRP filed an application (IA(IBC)/142/2026) seeking a direction for the restoration of these funds.

## Facts

Corporate Insolvency Resolution Process (CIRP) was initiated against Suvarnabhoomi Infra Developers Pvt Ltd on 20.01.2026.

Mr. K. J. Vinod was appointed as the Interim Resolution Professional (IRP) for the Corporate Debtor.

Upon commencement of CIRP, the management of the Corporate Debtor's affairs vested with the IRP, and the powers of the Board of Directors were suspended.

A moratorium under Section 14 of the IBC, 2016, was imposed on the Corporate Debtor.

The Respondent, Mr. Sridhar Bollineni (Suspended Director), was informed of the CIRP and moratorium on 21.01.2026 via e-mail, WhatsApp, telephone calls, and by personal service of the admission order on 23.01.2026.

…

## Issues and analysis

### Issue 1: Whether the Respondent (Suspended Director) acted in contravention of Sections 14 and 17 of the …

**Ratio:** Upon the commencement of CIRP and the imposition of a moratorium under Section 14 of the

…

**Reasoning:** The Respondent was duly informed of the initiation of CIRP and the moratorium through

…

**Interpretation:** Sections 14 and 17 of the IBC, 2016, are designed to protect the assets of the

…

**Application:** The Respondent, Mr. Sridhar Bollineni, as a Suspended Director, transferred Rs.

…

## Parties

- **Judges:** KISHORE VEMULAPALL…; UMESH KUMAR…
- **Appellants:** M/s. Global…; K.J. V…
- **Respondents:** Suvarnabhoomi…; Sridhar Bol…
- **Other parties:** Amara…
- **Advocates:** Varun Srin…; Pranav Gopalakrish…

## Timeline

- **2026-01-20 — CIRP Admission and IRP…**: The Adjudicating Authority admitted the Corporate Debtor into CIRP and appointed the…
- **2026-01-21 — Respondent Informed of…**: The Respondent was informed of the initiation of CIRP and the moratorium through e-mail,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-amaravati/ms-global-enterprise-and-another-vs-suvarnabhoomi-infra-developers-pvt-ltd-tb7l3