Bank of Maharashtra filed an application against Mr. Gali Gopi (Rex Contractors & Traders Pvt Ltd) as the personal guarantor. The Tribunal ordered notice to the personal guarantor, but the guarantor did not appear or contest the petition. The Tribunal perused the petition and was satisfied that the petitioner had made out a case for the admission of the Application of IRP. The Tribunal admitted the company petition, declaring a moratorium and appointing Shri Golla Rama Kantha Rao as the IRP. The IRP is required to file a report under Section 99 of the Code within 10 days. The respondents are required to file a reply within two weeks.

Bank of Maharashtra filed an application against Mr. Gali Gopi (Rex Contractors & Traders Pvt Ltd) as the personal guarantor. The Tribunal ordered notice to the personal guarantor, but the guarantor did not appear or contest the petition. The Tribunal perused the petition and was satisfied that the petitioner had made out a case for the admission of the Application of IRP. The Tribunal admitted the company petition, declaring a moratorium and appointing Shri Golla Rama Kantha Rao as the IRP. The IRP is required to file a report under Section 99 of the Code within 10 days. The respondents are required to file a reply within two weeks.