# In the matter of State Bank of India vs. Manchala Chandraiah

> NCLT judgment dated 2024-02-09. Citation: TCN-2024-NCLT-02662. The case pertains to CP (IB) No. 393/95/HDB/2022 under Section 95 of the IBC, 2016. The matter…

- **Court:** NCLT
- **Order date:** 9 Feb 2024
- **Citation:** TCN-2024-NCLT-02662
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-manchala-chandraiah-57bcd0f9

## Summary

### Background

The case pertains to CP (IB) No. 393/95/HDB/2022 under Section 95 of the IBC, 2016. The matter involves State Bank of India as the Petitioner and Mr. Manchala Chandraiah (M/s. Maruthi Tubes Private Limited) as the Respondent. The order was issued following a judgment by the Supreme Court of India in Surendra B. Jiwrajka vs Omkara Assets Reconstruction Private Limited in W.P.(C) No. 149/2022.

## Facts

State Bank of India filed a case, CP (IB) No. 393/95/HDB/2022, under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, against Mr. Manchala Chandraiah (M/s. Maruthi Tubes Private Limited). Following a Supreme Court judgment in Surendra B. Jiwrajka vs Omkara Assets Reconstruction Private Limited, the National Company Law Tribunal (NCLT), Hyderabad Bench, appointed Shri. Sreenivasa Rao Ravinuthala as the Resolution Professional, ensuring his registration with the IBBI. The petitioner, State Bank of India, is required to pay Rs. 50,000 towards initial expenses. The case is adjourned to 26.02.2024 for a report.

## Issues and analysis

### Issue 1: Whether Shri. Sreenivasa Rao Ravinuthala should be appointed as the Resolution Professional in the …

**Ratio:** The court has the power to appoint a Resolution Professional, especially when the

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**Reasoning:** The court referred to the judgment of the Hon'ble Supreme Court of India in Surendra B.

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**Interpretation:** The court interprets its power to appoint a Resolution Professional based on

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**Application:** Shri. Sreenivasa Rao Ravinuthala was appointed as the Resolution Professional

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. CHARAN…
- **Appellants:** State Bank of…
- **Respondents:** M/s. Maruthi…; Manchala Chandraia…

## Timeline

- **2024-02-09 — Hearing…**: Attendance cum order sheet of the…
- **2024-02-26 — Adjournmen…**: Matter stands adjourned…

## 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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