# In the matter of Bank of Maharashtra Vs. Manda Venkata Mahalakshmi, CP(IB)/173/95/HDB/2022

> NCLT judgment dated 2022-06-06. Citation: TCN-2022-NCLT-02392. The case involves Bank of Maharastra as the petitioner against Smt.Manda Venkata Mahalakshmi…

- **Court:** NCLT
- **Order date:** 6 Jun 2022
- **Citation:** TCN-2022-NCLT-02392
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bank-of-maharashtra-vs-manda-venkata-mahalakshmi-cp-2ad3a712

## Summary

### Background

The case involves Bank of Maharastra as the petitioner against Smt.Manda Venkata Mahalakshmi and M/s SVSVS Projects Pvt Ltd as respondents. The matter pertains to an application under Section 95 of the IBC, 2016. The petitioner proposed Shri Murali mohan Chevuturi as the Resolution Professional.

## Facts

Bank of Maharastra filed a petition against Smt.Manda Venkata Mahalakshmi and M/s SVSVS Projects Pvt Ltd under Section 95 of the IBC, 2016. The petitioner proposed Shri Murali mohan Chevuturi as the Resolution Professional. The court appointed Shri Murali mohan Chevuturi as the Resolution Professional and imposed an interim moratorium, staying legal actions against the debtor and preventing creditors from initiating new actions. The Resolution Professional is required to file a report within ten days. The matter was adjourned to 30.06.2022.

## Issues and analysis

### Issue 1: Whether Shri Murali mohan Chevuturi should be …

**Ratio:** The court has the power to appoint a Resolution Professional based on the proposal of the

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**Reasoning:** The court noted that Shri Murali mohan Chevuturi is registered with the IBBI and his name

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**Interpretation:** This demonstrates the court's adherence to the procedural requirements for

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**Application:** The court applied the ratio by verifying Shri Murali mohan Chevuturi's

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. VEERA BRAHMA…
- **Appellants:** Bank of Mah…
- **Respondents:** M/s. SVSVS…; Smt.Manda Venkata…

## Timeline

- **2022-06-06 — Hearing…**: Hearing held on 06-06-2022 at 10:30…
- **2022-06-30 — Adjournmen…**: The matter stands…

## 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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