# In the matter of Pridhvi Assets Reconstruction and Securitization Company Ltd Vs. Kollipara Ravi Kumar & Sri Pavana Keerthi Hotels India Pvt Ltd, CP (IB)/195/95/HDB/2022

> NCLT judgment dated 2022-06-21. Citation: TCN-2022-NCLT-02131. The case pertains to CP(IB) No.195/95/HDB/2022 filed under Section 95 of the IBC, 2016. Pridhvi…

- **Court:** NCLT
- **Order date:** 21 Jun 2022
- **Citation:** TCN-2022-NCLT-02131
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/pridhvi-assets-reconstruction-and-securitization-company-ltd-vs-kollipara-ravi-k-4c8e9e37

## Summary

### Background

The case pertains to CP(IB) No.195/95/HDB/2022 filed under Section 95 of the IBC, 2016. Pridhvi Assets Reconstruction And Securitisation Company Ltd is the petitioner, and Mr. Kollipara Ravi Kumar & Sri Pavana Keerthi Hotels India Pvt Ltd are the respondents. The hearing was held on 2022-06-21 via video conference.

## Facts

Pridhvi Assets Reconstruction And Securitisation Company Ltd filed a case (CP(IB) No.195/95/HDB/2022) against Mr. Kollipara Ravi Kumar & 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 related to the debt. The matter was listed for further consideration on 2022-07-07. 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

…

**Reasoning:** The court perused the record and found sufficient evidence to establish a prima facie

…

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

…

**Application:** In this case, the court's satisfaction with the record led to the conclusion

…

## Parties

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

## Timeline

- **2022-06-21 — Hearing…**: Hearing held on 2022-06-21 at 10:30…
- **2022-06-21 — Order Is…**: Court found prima facie case, appointed Shri Govada Venkata Subba Rao as Resolution…

## 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-kollipara-ravi-k-4c8e9e37