The State Bank of India filed a petition against Varam Bio Energy Pvt Ltd under Section 95 of the IBC. The NCLT, Hyderabad, convened a hearing on September 1, 2021. The petition triggered the commencement of an interim moratorium as per Section 96(1)(a) of the IBC. This moratorium stays any existing legal actions or proceedings against Varam Bio Energy Pvt Ltd and prevents creditors from initiating new ones. Shri Dantu Indu Sekhar was appointed as the Interim Resolution Professional (IRP) with a requirement to submit a report under Section 99 of the IBC within 10 days of appointment. The counsel for the petitioner, State Bank of India, is required to inform the IRP of their appointment and serve the application to them. The case was adjourned to October 21, 2021.

The State Bank of India filed a petition against Varam Bio Energy Pvt Ltd under Section 95 of the IBC. The NCLT, Hyderabad, convened a hearing on September 1, 2021. The petition triggered the commencement of an interim moratorium as per Section 96(1)(a) of the IBC. This moratorium stays any existing legal actions or proceedings against Varam Bio Energy Pvt Ltd and prevents creditors from initiating new ones. Shri Dantu Indu Sekhar was appointed as the Interim Resolution Professional (IRP) with a requirement to submit a report under Section 99 of the IBC within 10 days of appointment. The counsel for the petitioner, State Bank of India, is required to inform the IRP of their appointment and serve the application to them. The case was adjourned to October 21, 2021.