# In the matter of State Bank of India Vs. Chandra R Jain, CP (IB) No. 135/95/HBD/2021

> NCLT judgment dated 2021-08-04. Citation: TCN-2021-NCLT-01483. The case pertains to a company petition filed under Section 95 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 4 Aug 2021
- **Citation:** TCN-2021-NCLT-01483
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/state-bank-of-india-vs-chandra-r-jain-cp-ca0bacf9

## Summary

### Background

The case pertains to a company petition filed under Section 95 of the Insolvency and Bankruptcy Code (IBC). The petition was filed by State Bank of India against R.E. Cables & Conductors Pvt Ltd. The hearing was conducted via video conference.

## Facts

State Bank of India filed a petition against R.E. Cables & Conductors Pvt Ltd under Section 95 of the IBC. The court convened a hearing on August 4, 2021, where the IRP for the petitioner appeared. The advocate for the respondent undertook to file vakalat. The court then ordered the commencement of an interim moratorium, which stays any legal action or proceeding pending in respect of any debt and prevents creditors of the debtor from initiating any legal action or proceedings. Shri Krishna Mohan Gollamudi was appointed as the IRP and directed to file a report within 10 days. The respondents were directed to file a reply within two weeks, and the petitioner was directed to file a rejoinder within two weeks thereafter. The matter was adjourned to September 24, 2021.

## Issues and analysis

### Issue 1: Whether an interim moratorium should be commenced as per Section 96 of the IBC upon filing of the …

**Ratio:** Section 96(1)(a) of the I&B Code, 2016 stipulates that an interim moratorium

…

**Reasoning:** The court reasoned that upon filing a petition under Section 96(1)(a) of the I&B

…

**Interpretation:** Section 96(1)(a) of the I&B Code is interpreted to provide immediate

…

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

…

## Parties

- **Judges:** Shrimadan…; Veera Brahma Rao…
- **Appellants:** State Bank of…
- **Respondents:** RE Cables &…

## Timeline

- **2021-08-04 — Hearing…**: Hearing held on 04.08.2021 at 10:30 AM. Learned IRP for the Petitioner appeared. Ms.…
- **N/A — Interim Moratorium…**: Interim moratorium commences from the date of filing of the Petition under Section 96 (1)…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/state-bank-of-india-vs-chandra-r-jain-cp-ca0bacf9