# In the matter of Stressed Assets Stabilization Vs. D Srinivas Rao, CP (IB)/314/2022

> NCLT judgment dated 2022-12-12. Citation: TCN-2022-NCLT-00185. This is a petition filed by a Financial Creditor under Section 95 of the Insolvency &…

- **Court:** NCLT
- **Order date:** 12 Dec 2022
- **Citation:** TCN-2022-NCLT-00185
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/stressed-assets-stabilization-vs-d-srinivas-rao-cp-9937ce92

## Summary

### Background

This is a petition filed by a Financial Creditor under Section 95 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate insolvency proceedings.

## Facts

A petition was filed by a Financial Creditor under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC). The Financial Creditor, identified as State Bank of India Stressed Assets Management Branch-II, sought to initiate insolvency proceedings against the corporate debtor, Mr. D. Srinivas Rao. The application was heard by the National Company Law Tribunal, Hyderabad Bench, on December 12, 2022. The Learned Counsel for the Financial Creditor presented their submissions and the application was perused by the Tribunal. The Financial Creditor proposed Mr. Sreenivasa Rao Ravinuthala as the Resolution Professional (RP), providing his registration number. The Tribunal, after reviewing the application, appointed Mr. Sreenivasa Rao Ravinuthala as the RP in this

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## Parties

- **Judges:** TELAPROLU…; SH. CHARAN…
- **Appellants:** Mr.D.Sriniv…; State Bank of…
- **Respondents:** D. Sriniv…
- **Advocates:** Learned Counsel…

## Timeline

- **December 12, 2022 — Petition Filed…**: A petition was filed under Section 95 of IBC by the Financial Creditor and heard by the…
- **December 12, 2022 — RP Appoin…**: Mr. Sreenivasa Rao Ravinuthala was…

## 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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