# In the matter of Power Finance Corporation Ltd. vs. Sreenivas Motupalli

> NCLT judgment dated 2022-09-16. Citation: TCN-2022-NCLT-01052. The case involves a petition filed under Section 95 of the Insolvency & Bankruptcy Code, 2016…

- **Court:** NCLT
- **Order date:** 16 Sept 2022
- **Citation:** TCN-2022-NCLT-01052
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/power-finance-corporation-ltd-vs-sreenivas-motupalli-05046915

## Summary

### Background

The case involves a petition filed under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC) by a Financial Creditor. The court heard submissions from the Learned Counsel for the Financial Creditor and perused the application.

## Facts

Power Finance Corporation filed a petition under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC) against Sreenivas Motupalli, who is the respondent in this case. The petition was filed by the Financial Creditor. The court admitted the petition and declared an interim moratorium. Ms. T.K.Sharada was appointed as the Resolution Professional (RP). The RP is required to file a report under Section 99 of the IBC within 10 days from the date of her appointment. The petitioner is directed to intimate a copy of the order along with the application to the RP and file proof of the same in the Registry. The petitioner is also directed to issue notice to the Respondent and file proof of the same by way of an Affidavit. The petitioner is directed to pay Rs. 50,000 to

…

## Issues and analysis

### Issue 1: Whether the petition filed under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC) by …

**Ratio:** Section 95 of the IBC allows a financial creditor to initiate insolvency resolution

…

**Reasoning:** The court considered the submissions made by the Learned Counsel for the Financial

…

**Interpretation:** Section 95 of the IBC provides a mechanism for financial creditors to initiate

…

**Application:** The court applied Section 95 of the IBC to the facts of the case, where a

…

## Parties

- **Judges:** DR.VENKATA…; Veera Brahma Rao…
- **Appellants:** Power Finance…
- **Respondents:** Sreenivas…
- **Advocates:** Niharika A…

## Timeline

- **2022-09-16 — Hearing…**: Hearing held on 16.09.2022 at…
- **2022-09-16 — Order Da…**: Order issued on…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/power-finance-corporation-ltd-vs-sreenivas-motupalli-05046915