The case pertains to a Company Petition IB/129/2022 filed under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The petitioner, State Bank of India, sought the initiation of insolvency proceedings against Ms. T. Sri Ganesh & Chadalvada Infratech Ltd. The order addresses the commencement of an interim moratorium and the appointment of an Interim Resolution Professional (IRP).
State Bank of India filed a Company Petition (IB/129/2022) under Section 95 of the IBC, 2016, against Ms. T. Sri Ganesh & Chadalvada Infratech Ltd. The court initiated an interim moratorium, effective from the date of filing the application, as per Section 96(1)(a) of the I&B Code, 2016. This moratorium stays any legal action or proceeding pending in respect of any debt and prevents creditors from initiating any legal action or proceedings in respect of any debt. Shri Maligi Madhusudhana Reddy was appointed as the IRP and is required to submit a report within 10 days under Section 99 of the I&B Code, 2016. The petitioner's counsel is directed to notify the respondents and provide proof of service. The matter is adjourned to 13.05.2022.
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Hearing held on…
Interim moratorium commences from the date of…
The case pertains to a Company Petition IB/129/2022 filed under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The petitioner, State Bank of India, sought the initiation of insolvency proceedings against Ms. T. Sri Ganesh & Chadalvada Infratech Ltd. The order addresses the commencement of an interim moratorium and the appointment of an Interim Resolution Professional (IRP).
State Bank of India filed a Company Petition (IB/129/2022) under Section 95 of the IBC, 2016, against Ms. T. Sri Ganesh & Chadalvada Infratech Ltd. The court initiated an interim moratorium, effective from the date of filing the application, as per Section 96(1)(a) of the I&B Code, 2016. This moratorium stays any legal action or proceeding pending in respect of any debt and prevents creditors from initiating any legal action or proceedings in respect of any debt. Shri Maligi Madhusudhana Reddy was appointed as the IRP and is required to submit a report within 10 days under Section 99 of the I&B Code, 2016. The petitioner's counsel is directed to notify the respondents and provide proof of service. The matter is adjourned to 13.05.2022.
Hearing held on…
Interim moratorium commences from the date of…