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

> NCLT judgment dated 2024-02-09. Citation: TCN-2024-NCLT-02653. The case involves a matter before the National Company Law Tribunal (NCLT), Hyderabad Bench –…

- **Court:** NCLT
- **Order date:** 9 Feb 2024
- **Citation:** TCN-2024-NCLT-02653
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-manchala-chandraiah-6d42d469

## Summary

### Background

The case involves a matter before the National Company Law Tribunal (NCLT), Hyderabad Bench – 1, concerning CP (IB) No. 393/95/HDB/2022 under Section 95 of the IBC, 2016. The case is between State Bank of India (Petitioner) and Mr. Manchala Chandraiah (M/s. Maruthi Tubes Private Limited) (Respondent).

## Facts

The State Bank of India filed a case against Mr. Manchala Chandraiah (M/s. Maruthi Tubes Private Limited) under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. Following a Supreme Court judgment in Surendra B. Jiwrajka vs Omkara Assets Reconstruction Private Limited, the NCLT appointed Shri. Sreenivasa Rao Ravinuthala as the Resolution Professional. The Resolution Professional's registration number is IBBI/IPA-003/IP-N00081/2017-2018/10704, and their email is cma[dot]ravisrao[at]gmail [dot]com, and mobile number is 9885181135. The petitioner, State Bank of India, is required to pay Rs. 50,000/- towards initial expenses of the Resolution Professional. The matter is adjourned to 26.02.2024 for report. The appointment is based on the Resolution

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## Issues and analysis

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

**Ratio:** The court has the power to appoint a

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

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**Interpretation:** The interpretation is that the court is empowered to appoint a Resolution

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**Application:** The ratio and reasoning are applied to the specific facts by appointing Shri.

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. CHARAN…
- **Appellants:** State Bank of…
- **Respondents:** Maruthi Tubes…; 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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