# In the matter of Avasarala Laxmi Anuradha vide C.P.(IB) No. 52-94-HDB-2021

> NCLT judgment dated 2021-07-15. Citation: TCN-2021-NCLT-01743. The case pertains to a Company Petition/Application filed under CP (IB) No. 52/94/HDB/2021. The…

- **Court:** NCLT
- **Order date:** 15 Jul 2021
- **Citation:** TCN-2021-NCLT-01743
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/avasarala-laxmi-anuradha-vide-cpib-no-52-94-hdb-2021-3a1e4bff

## Summary

### Background

The case pertains to a Company Petition/Application filed under CP (IB) No. 52/94/HDB/2021. The Petitioner appeared before the court, while no one appeared for the Respondent. The Respondent's reply was not filed. The Petitioner suggested a name for the Interim Resolution Professional (IRP).

## Facts

The Company Petition/Application number is CP (IB) No. 52/94/HDB/2021. The company involved is Servomax India Pvt Ltd. The petitioner is Avasarala Lakshmi Anuradha. The respondents are State Bank of India & Servomax India Pvt Ltd. The petition is filed under Section 94. The learned counsel for the petitioner appeared, but no one appeared for the respondent. The respondent's reply was not filed. The petitioner suggested the name of the IRP. The court appointed the IRP and directed them to file a report within ten days. An interim moratorium was issued in view of Section 96 of the IBC. The respondent was directed to file a reply within two weeks. The matter was adjourned to 2021-08-26.

## Issues and analysis

### Issue 1: Whether an Interim Resolution Professional (IRP) should be appointed based on the Petitioner's …

**Ratio:** The court has the power to appoint an IRP to manage the affairs of the corporate debtor

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**Reasoning:** The court reasoned that the absence of the respondent and the lack of a filed reply

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**Interpretation:** This implies that the court prioritizes the progression of the insolvency

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**Application:** In this case, the court applied the ratio by appointing the IRP suggested by

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## Parties

- **Judges:** Shrimadan…; Veera Brahma Rao…
- **Appellants:** Avasarala Lakshmi…
- **Respondents:** Servomax India…; State Bank of…

## Timeline

- **2021-07-15 — Hearing…**: Hearing held on…
- **2021-08-26 — Adjournmen…**: Matter stands adjourned…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 96 — Interim- moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-96)

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