AI Structured Summary
Not yet generated for this judgment
Judgment
O R D E R
Shri VVSN Raju, learned Counsel for the petitioner appeared. Heard. Perused the record. We are satisfied that prima facie case is established by the Financial Creditor.
Petitioner has proposed Shri Govada Venkata Subba Rao, having Registration No.IBBI/ IPA-003/ ICAI-N-00358/ 2021-2022/ 13753, having address: Rajiv Swagruha Apartments, Flat No. 106, Block A - 05 Classic Diamond Towers, Anand Nagar, GSI Bandlaguda ,Next to D-Mart, Hyderabad, Telangana ,500068, to act as Resolution Professional. We hereby appoint Shri Govada Venkata Subba Rao to act as 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.
In the meanwhile interim moratorium shall come into force from the date of Application in terms of Section 96 of IB Code, 2016 as under:-
Any legal action or proceeding pending in respect of any debt shall deemed to have been stayed;
And
The creditors of the debtor shall not initiate any legal action or proceedings in respect of any debt.
Objections, if any, of the Personal Guarantors be filed before the next date of hearing.
Learned counsel for the Financial Creditor is directed to serve copy of this order along with Application on the Resolution Professional and file proof of same. List the matter for further consideration on 07.07.2022.