The case involves a Company Petition (IB/340/2022) filed under Section 95 of the Insolvency and Bankruptcy Code (IBC). The Respondent, Sunil Krishna Khaitan, was set ex-parte. The tribunal found a prima-facie default by the Personal Guarantor and appointed Mr. Vakiti Vineeth Reddy as the Resolution Professional. The Petitioner, Indian Bank, is required to pay Rs. 50,000 to the Resolution Professional. An interim moratorium has been declared, preventing legal actions against the debtor. The order was pronounced on 21.06.2023 and is to be posted on 26.07.2023.

The case involves a Company Petition (IB/340/2022) filed under Section 95 of the Insolvency and Bankruptcy Code (IBC). The Respondent, Sunil Krishna Khaitan, was set ex-parte. The tribunal found a prima-facie default by the Personal Guarantor and appointed Mr. Vakiti Vineeth Reddy as the Resolution Professional. The Petitioner, Indian Bank, is required to pay Rs. 50,000 to the Resolution Professional. An interim moratorium has been declared, preventing legal actions against the debtor. The order was pronounced on 21.06.2023 and is to be posted on 26.07.2023.