# In the matter of Pridhvi Assets Reconstruction and Securitization Company Ltd Vs. Kadiyala Suneetha, CP (IB)/199/95/HDB/2022

> NCLT judgment dated 2022-06-21. Citation: TCN-2022-NCLT-02130. The case pertains to CP(IB) No.199/95/HDB/2022 filed under Section 95 of the IBC, 2016. The…

- **Court:** NCLT
- **Order date:** 21 Jun 2022
- **Citation:** TCN-2022-NCLT-02130
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/pridhvi-assets-reconstruction-and-securitization-company-ltd-vs-kadiyala-suneeth-3e45ae52

## Summary

### Background

The case pertains to CP(IB) No.199/95/HDB/2022 filed under Section 95 of the IBC, 2016. The petitioner, Pridhvi Assets Reconstruction And Securitisation Company Ltd, initiated proceedings against the respondents, Smt. Kadiyala Suneetha & Sri Pavana Keerthi Hotels India Pvt Ltd. The hearing was held on 21-06-2022 via video conference.

## Facts

Pridhvi Assets Reconstruction And Securitisation Company Ltd filed a case (CP(IB) No.199/95/HDB/2022) against Smt. Kadiyala Suneetha & Sri Pavana Keerthi Hotels India Pvt Ltd under Section 95 of the IBC, 2016. The court found a prima facie case established by the Financial Creditor. Shri Govada Venkata Subba Rao was proposed as the Resolution Professional and subsequently appointed by the court. An interim moratorium was imposed, preventing legal actions against the debtor. The Financial Creditor's counsel was directed to serve the order and application to the Resolution Professional. The case was adjourned for further consideration on 07.07.2022. The key fact is the appointment of the Resolution Professional and the imposition of the interim moratorium, which are

…

## Issues and analysis

### Issue 1: Whether a prima facie case was …

**Ratio:** The court must be satisfied that a prima facie case exists before proceeding with the

…

**Reasoning:** The court perused the record and found that a prima facie case was established by the

…

**Interpretation:** The establishment of a prima facie case is a prerequisite for initiating the

…

**Application:** In this case, the court's satisfaction with the evidence presented by Pridhvi

…

## Parties

- **Judges:** Venkata Ramakrishn…; SH. VEERA BRAHMA…
- **Appellants:** Pridhvi Assets…
- **Respondents:** Pavana Keerthi…; Kadiyala Su…

## Timeline

- **2022-06-21 — Hearing…**: Hearing held on 21-06-2022 at 10:30…
- **2022-07-07 — 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)

---

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/pridhvi-assets-reconstruction-and-securitization-company-ltd-vs-kadiyala-suneeth-3e45ae52