# In the matter of  L. Ramalakshmamma Vs. State Bank of India, IA (IBC) No. 346/2021 in CP (IB) No. 02/95/HDB/2021

> NCLT judgment dated 2021-07-23. Citation: TCN-2021-NCLT-01636. The case involves an application under Section 95 of the Insolvency and Bankruptcy Code (IBC),…

- **Court:** NCLT
- **Order date:** 23 Jul 2021
- **Citation:** TCN-2021-NCLT-01636
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/l-ramalakshmamma-vs-state-bank-of-india-ia-60017eb0

## Summary

### Background

The case involves an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. IA (IBC) No. 346/2021 is filed in CP (IB) No. 02/95/HDB/2021 for urgent listing, which was allowed. The matter was listed before the National Company Law Tribunal (NCLT), Hyderabad.

## Facts

State Bank of India filed an application (IA (IBC) No. 346/2021 in CP (IB) No. 02/95/HDB/2021) under Section 95 of the IBC, 2016. The application sought an interim moratorium. L. Ramalakshmamma is the petitioner. The court allowed the application for urgent listing and appointed Shri Anil Kohli as the Interim Resolution Professional (IRP). The IRP is required to submit a report under Section 99 of the IBC within 10 days. The respondents are required to file a reply within two weeks, and the petitioners have two weeks thereafter to file a rejoinder. The case was adjourned to 03.09.2021. The interim moratorium commences from the date of filing the application under section 96(1)(a) of the I&B Code, 2016. Legal actions are governed under section 96(1)(b) of the

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## Issues and analysis

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

**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 under Section 95 of the I&B Code,

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

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**Application:** Since the application was filed under Section 95, the interim moratorium was

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## Parties

- **Judges:** Shrimadan…; Veera Brahma Rao…
- **Appellants:** L. Ramalaks…
- **Respondents:** State Bank of…

## Timeline

- **2021-07-23 — Hearing…**: Hearing held on…
- **2021-09-03 — Adjournmen…**: The matter stands…

## 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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