# In the matter of State Bank of India Vs. Mr. A N Vijay Raghavan, CP (IB) No. 399/95/HDB/2020

> NCLT judgment dated 2021-07-28. Citation: TCN-2021-NCLT-01579. The case involves an application under the I&B Code, 2016. The court is considering the…

- **Court:** NCLT
- **Order date:** 28 Jul 2021
- **Citation:** TCN-2021-NCLT-01579
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/state-bank-of-india-vs-mr-a-n-vijay-raghavan-cp-3952e769

## Summary

### Background

The case involves an application under the I&B Code, 2016. The court is considering the commencement of an interim moratorium following the filing of the application. The legal actions are governed by Section 96(1)(b) of the I&B Code, 2016.

## Facts

The State Bank of India filed a company petition against PPS Enviro Power Pvt Ltd. The court is considering the application and the commencement of an interim moratorium. The application is filed under Section 95 of the IBC. Shri Krishnasamy Vasudevan is appointed as the IRP. The IRP is required to file a report under Section 99 of the I&B Code, 2016 within 10 days. The respondents are required to file a reply within two weeks, and the petitioners can file a rejoinder within two weeks thereafter. The matter is adjourned to 2021-09-01.

## Issues and analysis

### Issue 1: Whether an interim moratorium should be commenced following the filing of the application under …

**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 reasoned that the interim moratorium commences automatically upon the filing of

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**Interpretation:** Section 96(1)(a) is interpreted to mean that the interim moratorium is

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**Application:** The court applied the ratio to the facts of the case, noting that since an

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## Parties

- **Judges:** Shrimadan…; Veera Brahma Rao…
- **Appellants:** State Bank of…
- **Respondents:** PPS Enviro Power…; A.N. Vijaya…

## Timeline

- **2021-07-28 — Hearing…**: Hearing held on…
- **N/A — Application…**: Application filed under…

## 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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