# In the matter of State Bank of India Vs. K Supriya & Vishwa Infrastructure & Services Pvt Ltd, CP (IB)/313/95/HDB/2021

> NCLT judgment dated 2021-12-03. Citation: TCN-2021-NCLT-00270. The State Bank of India, as the petitioner, filed a case against K Supriya & Vishwa…

- **Court:** NCLT
- **Order date:** 3 Dec 2021
- **Citation:** TCN-2021-NCLT-00270
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/state-bank-of-india-vs-k-supriya-vishwa-infrastructure-services-pvt-ltd-cp-c446a691

## Summary

### Background

The State Bank of India, as the petitioner, filed a case against K Supriya & Vishwa Infrastructures And Services Pvt Ltd, the respondents, under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The Tribunal is considering the appointment of an Interim Resolution Professional (IRP).

## Facts

The State Bank of India filed a petition under Section 95 of the IBC, 2016 against K Supriya & Vishwa Infrastructures And Services Pvt Ltd. The petitioner requested the Tribunal to appoint an IRP. The Tribunal appointed Mr. Kiran Kumar Manikkwar as the IRP, noting his presence on the IBBI database. An interim moratorium was imposed as per Section 96 of the IBC, staying legal actions against the debtor and preventing creditors from initiating new actions. The petitioner is responsible for the expenses of the RP and must notify the respondent. The case was adjourned to 2022-01-12.

## Issues and analysis

### Issue 1: Whether an Interim Resolution Professional (IRP) …

**Ratio:** The Tribunal has the power to appoint an IRP when a petition is filed under Section 95 of

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**Reasoning:** The Tribunal appointed Mr. Kiran Kumar Manikkwar as the IRP because his name was found in

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**Interpretation:** This demonstrates the Tribunal's adherence to the IBC's provisions for

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**Application:** The Tribunal applied the ratio by verifying the IRP's credentials against the

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. VEERA BRAHMA…
- **Appellants:** State Bank of…
- **Respondents:** K Supriya &…

## Timeline

- **2021-12-03 — Hearing…**: Hearing held on 2021-12-03 at…
- **N/A — IRP Appoi…**: Mr. Kiran Kumar Manikkwar…

## 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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