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Judgment
Learned Counsel for the petitioner and Learned counsel for the respondents appeared through video conference.
The respondents sought time for filing counter. Counter be filed within seven days by giving copy thereof to the other side.
Petitioner has proposed Dr. Kondapalli Venkat Srinivas, bearing Registration No.IBBI/IPA-001/IP-P00520/ 2017-18/ 10945 to act as Resolution Professional. We hereby appoint said Dr. Kondapalli Venkat Srinivas to act as Interim Resolution professional in the instant matter as his name appears on the current database of IBBI. He has to file report within 10 days from the date of this order as per Section 99 of the Code.
In the meanwhile interim moratorium shall come into force from the date of the application in terms of Section 96 of IB Code, 2016 as under:-
(i)Any legal action or proceeding pending in respect of any debt shall deemed to have been stayed; and
(ii)The creditors of the debtor shall not initiate any legal action or proceedings in respect of any debt.
Learned counsel for the Financial Creditor is directed to serve copy of this order along with the application on the Resolution Professional and file proof of same.
The matter stands adjourned to 17.11.2021.