The State Bank of India filed an application under Section 95 of the IBC against Vysyaraju Lakshman Raju & Varam Bio Energy Ltd. The NCLT, Hyderabad, heard the matter through video conference. The court noted the appearance of counsels for both the petitioner (SBI) and the respondents. An interim moratorium was declared, effective from the date of filing the application under Section 96(1)(a) of the I&B Code, 2016. Shri Dantu Indu Sekhar was appointed as the Interim Resolution Professional (IRP). The IRP is required to submit a report within 10 days as per Section 99 of the I&B Code, 2016. The respondents are required to file a reply within two weeks, and the petitioners can file a rejoinder within two weeks thereafter. The case was adjourned to 2021-09-08.

The State Bank of India filed an application under Section 95 of the IBC against Vysyaraju Lakshman Raju & Varam Bio Energy Ltd. The NCLT, Hyderabad, heard the matter through video conference. The court noted the appearance of counsels for both the petitioner (SBI) and the respondents. An interim moratorium was declared, effective from the date of filing the application under Section 96(1)(a) of the I&B Code, 2016. Shri Dantu Indu Sekhar was appointed as the Interim Resolution Professional (IRP). The IRP is required to submit a report within 10 days as per Section 99 of the I&B Code, 2016. The respondents are required to file a reply within two weeks, and the petitioners can file a rejoinder within two weeks thereafter. The case was adjourned to 2021-09-08.