Bank of Maharastra filed an application against Mr. Donkena Purna Sri (Maven Life Sciences Pvt Ltd) as a Personal Guarantor. The Tribunal served notice to the Personal Guarantor, but the guarantor did not appear or contest the petition. Consequently, the Tribunal proceeded ex-parte. The Petitioner pursued the Petition and satisfied the Tribunal that the Petitioner has made out the case for admission of this Application of IRP. The Tribunal admitted the company petition, declared a moratorium, and appointed Shri Golla Rama Kanth Rao as the IRP. The IRP is required to file a report under Section 99 of the Code within 10 days. The interim moratorium commences from the date of filing the application under Section 96(1)(a) of IBC, 2016.

Bank of Maharastra filed an application against Mr. Donkena Purna Sri (Maven Life Sciences Pvt Ltd) as a Personal Guarantor. The Tribunal served notice to the Personal Guarantor, but the guarantor did not appear or contest the petition. Consequently, the Tribunal proceeded ex-parte. The Petitioner pursued the Petition and satisfied the Tribunal that the Petitioner has made out the case for admission of this Application of IRP. The Tribunal admitted the company petition, declared a moratorium, and appointed Shri Golla Rama Kanth Rao as the IRP. The IRP is required to file a report under Section 99 of the Code within 10 days. The interim moratorium commences from the date of filing the application under Section 96(1)(a) of IBC, 2016.