State Bank of India filed a petition against Basani Mar Reddy Reddy & Indu Projects Ltd. under Section 95 of an unspecified act. The NCLT Hyderabad bench heard the matter via video conference. The petitioner proposed Mr. Kasi Srinivas as the Resolution Professional, and the tribunal appointed him. The tribunal directed the petitioner to serve notice to the respondent via speed post and email, with proof of service required within two weeks. An interim moratorium was imposed, staying legal actions and prohibiting creditors from initiating new actions against the debtor. The matter was adjourned to 2021-09-24.

State Bank of India filed a petition against Basani Mar Reddy Reddy & Indu Projects Ltd. under Section 95 of an unspecified act. The NCLT Hyderabad bench heard the matter via video conference. The petitioner proposed Mr. Kasi Srinivas as the Resolution Professional, and the tribunal appointed him. The tribunal directed the petitioner to serve notice to the respondent via speed post and email, with proof of service required within two weeks. An interim moratorium was imposed, staying legal actions and prohibiting creditors from initiating new actions against the debtor. The matter was adjourned to 2021-09-24.