Indian Overseas Bank has filed a petition against Mr. TG Prashanth & M/s. Blossom Oils & Fats Limited under Section 95 of the IBC, 2016. The court has initiated an interim moratorium under Section 96(1)(a) of the IBC, which stays any legal action or proceeding pending in respect of any debt and prevents creditors from initiating any legal action or proceedings. Ms. Mummaneni Vazra Laxmi has been appointed as the Resolution Professional (RP) and 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, and the Petitioner may file a rejoinder within two weeks thereafter. The matter is adjourned to 26.09.2022.

Indian Overseas Bank has filed a petition against Mr. TG Prashanth & M/s. Blossom Oils & Fats Limited under Section 95 of the IBC, 2016. The court has initiated an interim moratorium under Section 96(1)(a) of the IBC, which stays any legal action or proceeding pending in respect of any debt and prevents creditors from initiating any legal action or proceedings. Ms. Mummaneni Vazra Laxmi has been appointed as the Resolution Professional (RP) and 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, and the Petitioner may file a rejoinder within two weeks thereafter. The matter is adjourned to 26.09.2022.