# In the matter of Pridhvi Assets Reconstruction and Securitization Company Ltd Vs. Kollipara Sravanthi & Sri Pavana Keerthi Hotels India Pvt Ltd, CP (IB)/193/95/HDB/2022

> NCLT judgment dated 2022-06-21. Citation: TCN-2022-NCLT-02127. The case pertains to CP(IB) No.193/95/HDB/2022 filed under Section 95 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 21 Jun 2022
- **Citation:** TCN-2022-NCLT-02127
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/pridhvi-assets-reconstruction-and-securitization-company-ltd-vs-kollipara-sravan-ab5e3eb5

## Summary

### Background

The case pertains to CP(IB) No.193/95/HDB/2022 filed under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. Pridhvi Assets Reconstruction And Securitisation Company Ltd is the petitioner, and Mrs. Kollipara Sravanthi & 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.193/95/HDB/2022 against Mrs. Kollipara Sravanthi & 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, with Registration No.IBBI/ IPA-003/ ICAI-N-00358/2021-2022/13753 and address at Rajiv Swagruha Apartments, Flat No. 106, Block A - 05 Classic Diamond Towers, Anand Nagar, GSI Bandlaguda, Next to D-Mart, Hyderabad, Telangana ,500068, was appointed as the Resolution Professional. An interim moratorium was imposed, staying legal actions and preventing creditors from initiating new ones. The Financial Creditor's counsel was directed to serve the order and

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## 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 was satisfied that a prima facie case was established by

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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 evidence presented by the

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## Parties

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

## Timeline

- **2022-06-21 — Hearing…**: Attendance cum order sheet of the hearing held on 2022-06-21 at 10:30 A.M. through video…
- **2022-06-21 — Order Is…**: Court found a prima facie case established by the Financial Creditor and appointed Shri…

## 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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