# In the matter of Harish Gupta Vs. Ramanand Agarwal & Co., CP (IB) No. 345/95/HDB/2020

> NCLT judgment dated 2021-07-28. Citation: TCN-2021-NCLT-01586. The case pertains to a matter before the National Company Law Tribunal (NCLT), Hyderabad, under…

- **Court:** NCLT
- **Order date:** 28 Jul 2021
- **Citation:** TCN-2021-NCLT-01586
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/harish-gupta-vs-ramanand-agarwal-co-cp-a95d8244

## Summary

### Background

The case pertains to a matter before the National Company Law Tribunal (NCLT), Hyderabad, under the Insolvency and Bankruptcy Code (IBC). The hearing was conducted via video conference. The application was filed under Section 95 of the IBC.

## Facts

Ramanand Agarwal & Company filed a petition against Harish Gupta under Section 95 of the IBC. The court convened a hearing on July 28, 2021. The court initiated an interim moratorium as per Section 96(1)(a) of the I&B Code, 2016. Ms. Sandhya Tadla was appointed as the Interim Resolution Professional (IRP). The respondents were directed to file a reply within two weeks, and the petitioners were directed to file a rejoinder within two weeks thereafter. Both parties were directed to upload the pleadings in e-portal. The matter was adjourned to September 1, 2021.

## Issues and analysis

### Issue 1: Whether an interim moratorium should be commenced …

**Ratio:** Section 96(1)(a) of the I&B Code, 2016, provides for the commencement of an interim

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**Reasoning:** The court noted that the application was filed, and therefore, the interim moratorium

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**Interpretation:** Section 96(1)(a) is interpreted to mean that upon filing of an application, an

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**Application:** The court applied Section 96(1)(a) to the present case, leading to the

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## Parties

- **Judges:** Shrimadan…; Veera Brahma Rao…
- **Appellants:** Ramanand Agarwal…
- **Respondents:** Harish…

## Timeline

- **2021-07-28 — Hearing…**: Hearing held on July…
- **N/A — Interim Moratorium…**: Interim moratorium commences from the date of filing of the application under Section…

## 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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