# 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-02099. 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-02099
- **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-6554a256

## Summary

### Background

The case pertains to CP(IB) No.199/95/HDB/2022 filed under Section 95 of the IBC, 2016. The matter involves Pridhvi Assets Reconstruction And Securitisation Company Ltd as the petitioner and Smt. Kadiyala Suneetha & Sri Pavana Keerthi Hotels India Pvt Ltd as the respondents. The hearing was held on 21-06-2022 through 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 and subsequently appointed as the Resolution Professional. An interim moratorium was imposed, preventing creditors from initiating legal action. The matter was listed for further consideration on 07.07.2022. The Resolution Professional is required to file a report within 10 days from the date of the order.

## Issues and analysis

### Issue 1: Whether a prima facie case has been …

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

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

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

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**Application:** In this case, the court's satisfaction with the prima facie evidence presented

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## 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)

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