# In the matter of State Bank of India Vs. Vysyaraju Kalpana & Anr. CP (IB) No. 100/95/HDB/2021

> NCLT judgment dated 2021-07-23. Citation: TCN-2021-NCLT-01656. The case pertains to a Company Petition/Application filed under the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 23 Jul 2021
- **Citation:** TCN-2021-NCLT-01656
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/state-bank-of-india-vs-vysyaraju-kalpana-anr-cp-d8880030

## Summary

### Background

The case pertains to a Company Petition/Application filed under the Insolvency and Bankruptcy Code (IBC). The application was filed under section 95 of IBC. The court is hearing the matter through video conference.

## Facts

The State Bank of India filed a Company Petition/Application against Varam Bio Energy Ltd. The court is addressing the commencement of an interim moratorium under section 96(1)(a) of the I&B Code, 2016. Shri Dantu Indu Sekhar is appointed as the Interim Resolution Professional (IRP). The IRP is directed to file a report under section 99 of the I&B Code, 2016, within 10 days of his appointment. The respondents are directed to file a reply within two weeks by providing copies to the petitioners. The petitioners are granted two weeks thereafter to file a rejoinder. The matter is adjourned to 2021-09-08.

## Issues and analysis

### Issue 1: Whether an interim moratorium should be commenced …

**Ratio:** Section 96(1)(a) of the I&B Code, 2016, stipulates the commencement of an interim

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**Reasoning:** The court noted that an application was filed, triggering the provisions of section

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**Interpretation:** Section 96(1)(a) is interpreted to mean that upon filing an application under

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**Application:** Given the filing of the application, the court applied section 96(1)(a) and

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## Parties

- **Judges:** Shrimadan…; Veera Brahma Rao…
- **Appellants:** State Bank of…
- **Respondents:** Varam Bio Energy…; Vysyaraju K…

## Timeline

- **2021-07-23 — Hearing…**: Hearing held on…
- **N/A — IRP Appoi…**: Shri Dantu Indu Sekhar…

## 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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