# In the matter of Bank of Maharashtra vs. Veeramanchineni Sailaja

> NCLT judgment dated 2022-06-06. Citation: TCN-2022-NCLT-02385. The case pertains to CP(IB)177/95/HDB/2022 filed under Section 95 of the IBC, 2016. The…

- **Court:** NCLT
- **Order date:** 6 Jun 2022
- **Citation:** TCN-2022-NCLT-02385
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bank-of-maharashtra-vs-veeramanchineni-sailaja-1635799a

## Summary

### Background

The case pertains to CP(IB)177/95/HDB/2022 filed under Section 95 of the IBC, 2016. The petitioner, Bank of Maharastra, has proposed Shri Murali mohan Chevuturi as the Resolution Professional. The court is considering the appointment of the proposed Resolution Professional and the commencement of an interim moratorium.

## Facts

Bank of Maharastra filed a case CP(IB)177/95/HDB/2022 under Section 95 of IBC, 2016. The petitioner proposed Shri Murali mohan Chevuturi as the Resolution Professional, who is registered with IBBI (Registration No: IBBI/ IPA-003/00307/2020-2021/13464). The court appointed Shri Murali mohan Chevuturi as the Resolution Professional and directed him to file a report within ten days. An interim moratorium was ordered, preventing legal actions against the debtor and prohibiting creditors from initiating new actions. The Financial Creditor's counsel was instructed to serve the order and application to the Resolution Professional. The case was adjourned to 30.06.2022.

## Issues and analysis

### Issue 1: Whether Shri Murali mohan Chevuturi should be appointed as the Resolution Professional in the …

**Ratio:** The court has the authority to appoint a Resolution Professional based on the proposal by

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**Reasoning:** The court noted that Shri Murali mohan Chevuturi's name appears on the current database

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**Interpretation:** This implies that the court is satisfied with the credentials of the proposed

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**Application:** Given that Shri Murali mohan Chevuturi is registered with IBBI, the court

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## Parties

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

## Timeline

- **2022-06-06 — Hearing…**: Hearing held on 06-06-2022 at 10:30…
- **2022-06-06 — Appointment of…**: Shri Murali mohan Chevuturi…

## 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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