# 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-01588. 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-01588
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/state-bank-of-india-vs-mr-a-n-vijay-raghavan-cp-c0ef8133

## 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 of the I&B Code, 2016.

## Facts

The State Bank of India filed a company petition against PPS Enviro Power Pvt Ltd under Section 95 of the IBC. The court is considering the commencement of an interim moratorium. The court has appointed Shri Krishnasamy Vasudevan as the Interim Resolution Professional (IRP). The IRP is required to file a report under Section 99 of the I&B Code within 10 days. The respondents are required to file a reply within two weeks, and the petitioners may file a rejoinder within two weeks thereafter. The matter is adjourned to 01.09.2021.

## 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 an interim moratorium upon the

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

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**Interpretation:** Section 96(1)(a) is interpreted to mean that the act of filing an application

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**Application:** The court applied this principle by declaring that the interim moratorium

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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 — Appointment…**: Shri Krishnasamy…

## 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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