# 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-01645. 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-01645
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/l-ramalakshmamma-vs-state-bank-of-india-ia-d0712699

## Summary

### Background

The case involves an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The applicant, State Bank of India, seeks an interim moratorium. The IA (IBC) No. 346/2021 was filed for urgent listing and was allowed.

## Facts

State Bank of India filed an application (IA (IBC) No. 346/2021 in CP (IB) No. 02/95/HDB/2021) seeking an interim moratorium under Section 95 of the IBC. The application was filed against L. Ramalakshmamma. The court considered the application and the provisions of Section 96 of the I&B Code, 2016, regarding the commencement and effect of the interim moratorium. Shri Anil Kohli was appointed as the IRP and directed to submit a report under Section 99 of the I&B Code, 2016. The respondents were directed to file a reply, and the petitioners were given an opportunity to file a rejoinder. The case was adjourned to 03.09.2021.

## 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 considered the application filed by State Bank of India under Section 95 of the

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

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**Application:** The court applied Section 96(1)(a) to the facts of the case, granting an

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## Parties

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

## Timeline

- **2021-07-23 — Hearing…**: Hearing held on…
- **2021-07-23 — IA Filed…**: IA (IBC) No. 346/2021 filed for…

## 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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