# In the matter of State Bank of India Vs Gupu Bala Reddy vide CP. IB-38-2021

> NCLT judgment dated 2021-07-14. Citation: TCN-2021-NCLT-01757. The case pertains to a Company Petition (IB/38/2021) filed before the National Company Law…

- **Court:** NCLT
- **Order date:** 14 Jul 2021
- **Citation:** TCN-2021-NCLT-01757
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/state-bank-of-india-vs-gupu-bala-reddy-vide-cp-ib-38-2021-60155589

## Summary

### Background

The case pertains to a Company Petition (IB/38/2021) filed before the National Company Law Tribunal (NCLT), Hyderabad Bench. The petition involves Mr. Gopu Bala Reddy & I.C.S.A.(India) as the company and State Bank of India as the petitioner. The matter was heard on 2021-07-14 via video conference.

## Facts

The Company Petition IB/38/2021 was filed by State Bank of India against Mr. Gopu Bala Reddy & I.C.S.A.(India) under Section 95 of the Insolvency and Bankruptcy Code (IBC). During the hearing on 2021-07-14, the petitioner was absent, but the respondent's counsel was present. The court directed the respondent to file a reply within two weeks. The court appointed an Interim Resolution Professional (IRP) as proposed by the petitioner and directed the IRP to file a report within 10 days. An interim moratorium was issued under Section 96 of the IBC. The matter was scheduled for further consideration on 2021-09-02.

## Issues and analysis

### Issue 1: Whether the respondent should be …

**Ratio:** The court has the power to direct parties to file pleadings and responses to ensure a

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**Reasoning:** The court directed the respondent to file a reply within two weeks to allow the court to

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**Interpretation:** This is a standard procedural step in legal proceedings, ensuring that all

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**Application:** The respondent, Mr. Gopu Bala Reddy & I.C.S.A.(India), was directed to file

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## Parties

- **Judges:** Madan B.…; Dr.Binod Kumar…
- **Appellants:** State Bank of…
- **Respondents:** Mr.Gopu Bala…

## Timeline

- **2021-07-14 — Hearing…**: Hearing of the Company Petition IB/38/2021 held on 2021-07-14. The petitioner was absent,…
- **N/A — Reply Filing…**: The respondent was directed to file a reply…

## 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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