# In the matter of State Bank of India Vs. K Vijay Kumar & Vishwa Infrastructure & Services Pvt Ltd, CP (IB)/307/95/HDB/2021

> NCLT judgment dated 2021-12-03. Citation: TCN-2021-NCLT-00272. The case involves State Bank of India as the petitioner and K Vijaya kumar & Vishwa…

- **Court:** NCLT
- **Order date:** 3 Dec 2021
- **Citation:** TCN-2021-NCLT-00272
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/state-bank-of-india-vs-k-vijay-kumar-vishwa-infrastructure-services-pvt-ltd-cp-df6620af

## Summary

### Background

The case involves State Bank of India as the petitioner and K Vijaya kumar & Vishwa Infrastructures and Services Pvt Ltd as the respondent. The matter pertains to an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The hearing was held on December 3, 2021, via video conference.

## Facts

State Bank of India filed a petition against K Vijaya kumar & Vishwa Infrastructures and Services Pvt Ltd under Section 95 of the IBC, 2016. The petitioner requested the appointment of an IRP. The Tribunal appointed Mr. Kiran Kumar Manikkwar as the IRP, noting his presence in the IBBI database. An interim moratorium was imposed, staying legal actions and preventing creditors from initiating new proceedings. The petitioner is responsible for the expenses of the RP. The respondent must be notified.

## Issues and analysis

### Issue 1: Whether an Interim Resolution Professional (IRP) should be appointed for the respondent, K Vijaya …

**Ratio:** The Tribunal has the power to appoint an IRP when an application is made under Section 95

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**Reasoning:** The Tribunal reasoned that since the petitioner requested the appointment of an IRP and

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**Interpretation:** Section 95 of the IBC allows for the initiation of insolvency resolution by a

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**Application:** The Tribunal applied the ratio by appointing Mr. Kiran Kumar Manikkwar as the

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## Parties

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

## Timeline

- **2021-12-03 — Hearing…**: Hearing held on December 3, 2021, at…
- **2022-01-12 — Adjournmen…**: Matter adjourned to…

## 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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