# In the matter of Bank of Maharashtra Vs. Gali Gopi, CP (IB) No.41/95/HDB/2023

> NCLT judgment dated 2023-04-27. Citation: TCN-2023-NCLT-03600. The case involves an application filed by a financial creditor. The Tribunal ordered notice to…

- **Court:** NCLT
- **Order date:** 27 Apr 2023
- **Citation:** TCN-2023-NCLT-03600
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bank-of-maharashtra-vs-gali-gopi-cp-a523815d

## Summary

### Background

The case involves an application filed by a financial creditor. The Tribunal ordered notice to the personal guarantor, which was duly served. However, the personal guarantor did not appear or contest the petition, leading to an ex-parte decision.

## Facts

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.

## Issues and analysis

### Issue 1: Whether the application for initiation of …

**Ratio:** The Tribunal has the power to admit an application for IRP if it is satisfied that a case

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**Reasoning:** The Tribunal perused the petition and was satisfied that the petitioner had made out a

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**Interpretation:** This means that the Tribunal found sufficient evidence and legal basis to

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**Application:** Since the Tribunal was satisfied with the petitioner's claim and the guarantor

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. CHARAN…
- **Appellants:** Bank of Mah…
- **Respondents:** Rex Contractors &…; Gali…

## Timeline

- **2023-04-27 — Hearing…**: Attendance cum order sheet of the…
- **2023-04-27 — Order Da…**: Tribunal admits the company petition,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95 — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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