# In the matter of Bank of Maharashtra Vs. Yelimali Venkatesh (Anna Eco Logiks Private Limited) , CP (IB)/365/95/HDB/2022

> NCLT judgment dated 2023-02-20. Citation: TCN-2023-NCLT-04531. The case pertains to a Company Petition filed under Section 95 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 20 Feb 2023
- **Citation:** TCN-2023-NCLT-04531
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bank-of-maharashtra-vs-yelimali-venkatesh-5814ea24

## Summary

### Background

The case pertains to a Company Petition filed under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The petitioner, Bank of Maharashtra, sought an interim moratorium and the appointment of a Resolution Professional. The court examined the petition, including the Deed of Guarantee, and found that the petition met the requirements of Section 95(4) of the Code.

## Facts

Bank of Maharashtra filed a Company Petition under Section 95 of the IBC, 2016, seeking an interim moratorium and the appointment of a Resolution Professional. The petition was accompanied by the necessary documents, including a Deed of Guarantee. The court found that the petition met the requirements of Section 95(4) of the Code, establishing a prima facie case for the requested relief. The petitioner proposed an Insolvency Professional, and the court appointed Shri. Golla Ramakantha Rao as the Resolution Professional. The Resolution Professional is required to submit a report within 10 days, and the petitioner must inform the Resolution Professional of the appointment. The case is related to the insolvency resolution of Shri. Yelimali Venkatesh (Anna Eco Logiks

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## Issues and analysis

### Issue 1: Whether a prima facie case exists for ordering an interim moratorium under Section 96 of the …

**Ratio:** Section 96 of the IBC allows for an interim moratorium upon the filing of an application

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**Reasoning:** The court perused the record, including the Deed of Guarantee, and was satisfied that the

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**Interpretation:** Section 96 is interpreted to mean that if the application under Section 95 is

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**Application:** Based on the facts presented in the Company Petition and the accompanying

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. CHARAN…
- **Appellants:** Bank of Maharashtr…
- **Respondents:** Anna Eco Logiks…; Shri. Yelimali…

## Timeline

- **2023-02-20 — Hearing…**: Hearing held on…
- **2023-03-23 — Next Hearin…**: Matter listed for further…

## 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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