In the matter of Central Bank of India v. Kotha Kasi Viswanandham, Cp (Ib) No. 94/95/AMR/2022
Case brief
What is this about?
The Tribunal appointed an Interim Resolution Professional after holding that no notice or hearing is required at the stage of appointment under Section 95 of IBC. Order directs submission of report under Section 99.
What did the court decide?
Mr. Madasa Kumar appointed as Interim Resolution Professional; report to be submitted within 10 days.
What the court decided
7
NATIONAL COMPANY LAW TRIBUNAL AMARAVATI BENCH (Video Conference)
PRESENT: JUSTICE TELAPROLU RAJANI – MEMBER JUDICIAL ATTENDANCE-CUM-ORDER SHEET OF THE HEARING HELD 10.10.2022 AT 10.30 AM
| TC/CP. Nos. | CA/IA No. | Section/ Rule |
Name of Parties |
|---|---|---|---|
| Central Bank of India Vs. Mr. | |||
| CPIBN94/95/AMR/2022 | 95 of | Kotha Kasi Viswanandham & M/s | |
| ()o. | IBC | Sri Ananda Lakshmi Narasimha | |
| Industries Private Limited |
Counsel for Petitioner(s):
Ries
| Name of the Counsel(s) Designation |
E-mail & Telephone No. Signature |
|---|
Counsel for Respondent(s):
Ries
Issues for consideration
3 issues framed by the court
Whether notice is required to be given to the personal guarantor at the stage of appointment of an Interim Resolution Professional.
Whether principles of natural justice are violated by not hearing the respondent before appointing an Interim Resolution Professional.
Whether the application seeking initiation of Corporate Insolvency Resolution Process against the personal guarantor is complete.
Parties & counsel
- petitioner
Central Bank of India
- respondent
Mr. Kotha Kasi Viswanadham
- respondent
Sri Ananda Lakshmi Narasimha Industries India Private Limited
Coram
Case details
As recorded by the court registry
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