The case involves an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The State Bank of India, as the petitioner, sought the appointment of an Interim Resolution Professional (IRP) against Y. Padmaja & Vishwa Infrastructures and Services Pvt Ltd, the respondent. The Tribunal considered the petitioner's request for appointing an IRP.
State Bank of India filed a petition under Section 95 of the IBC, 2016 against Y. Padmaja & Vishwa Infrastructures and Services Pvt Ltd. The petitioner requested the Tribunal to appoint an Interim Resolution Professional (IRP). The Tribunal found the requested IRP, Mr. Kiran Kumar Manikkwar, suitable based on the IBBI database. Upon the appointment of the IRP, an interim moratorium was imposed as per Section 96 of the IBC, which stays any legal action or proceeding pending in respect of any debt. The petitioner is directed to serve notice to the respondent and provide a copy of the order to the appointed RP. The matter was adjourned to 12.01.2022.
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The case involves an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The State Bank of India, as the petitioner, sought the appointment of an Interim Resolution Professional (IRP) against Y. Padmaja & Vishwa Infrastructures and Services Pvt Ltd, the respondent. The Tribunal considered the petitioner's request for appointing an IRP.
State Bank of India filed a petition under Section 95 of the IBC, 2016 against Y. Padmaja & Vishwa Infrastructures and Services Pvt Ltd. The petitioner requested the Tribunal to appoint an Interim Resolution Professional (IRP). The Tribunal found the requested IRP, Mr. Kiran Kumar Manikkwar, suitable based on the IBBI database. Upon the appointment of the IRP, an interim moratorium was imposed as per Section 96 of the IBC, which stays any legal action or proceeding pending in respect of any debt. The petitioner is directed to serve notice to the respondent and provide a copy of the order to the appointed RP. The matter was adjourned to 12.01.2022.
Hearing held on…
Matter stands a…