State Bank of India filed a Company Petition IB/123/2022 against Mrs. Rajya Lakshmi & Chadalvada Infratech Ltd. under Section 95 of the IBC, 2016. Following the filing of the application, an interim moratorium commenced as per Section 96(1)(a) of the IBC. Shri Maligi Madhusudhana Reddy was appointed as the Interim Resolution Professional (IRP) and is required to submit a report within 10 days under Section 99 of the IBC. The court directed the petitioner to issue notice to the respondents. The case was adjourned to 13.05.2022. The interim moratorium implies that any legal action or proceeding pending in respect of any debt shall be deemed to have been stayed, and the creditors of the debtor shall not initiate any legal action or proceedings in respect of any debt.

State Bank of India filed a Company Petition IB/123/2022 against Mrs. Rajya Lakshmi & Chadalvada Infratech Ltd. under Section 95 of the IBC, 2016. Following the filing of the application, an interim moratorium commenced as per Section 96(1)(a) of the IBC. Shri Maligi Madhusudhana Reddy was appointed as the Interim Resolution Professional (IRP) and is required to submit a report within 10 days under Section 99 of the IBC. The court directed the petitioner to issue notice to the respondents. The case was adjourned to 13.05.2022. The interim moratorium implies that any legal action or proceeding pending in respect of any debt shall be deemed to have been stayed, and the creditors of the debtor shall not initiate any legal action or proceedings in respect of any debt.