# In the matter of Bank of Baroda Vs. G Sivakumar Reddy

> NCLT judgment dated 2023-11-29. Citation: TCN-2023-NCLT-00539. This is a petition filed under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC)…

- **Court:** NCLT
- **Order date:** 29 Nov 2023
- **Citation:** TCN-2023-NCLT-00539
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bank-of-baroda-vs-g-sivakumar-reddy-715d65c9

## Summary

### Background

This is a petition filed under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC) by a Financial Creditor. The NCLT heard the counsel for the Financial Creditor and perused the record.

## Facts

The National Company Law Tribunal, Hyderabad Bench, heard a petition on November 29, 2023. The petition, Company Petition IB/181/2023, was filed by Bank of Baroda Ltd against Mr. G. Sivakumar Reddy under Section 95 of the Insolvency & Bankruptcy Code, 2016. The Financial Creditor, Bank of Baroda Ltd, initiated the proceedings. The NCLT heard the arguments from the counsels representing both the petitioner and the respondent and reviewed the submitted records.

## Issues and analysis

### Issue 1: Whether an interim moratorium should commence from the date of filing the petition under Section 95 …

**Ratio:** An interim moratorium under **Section 95** of the I&B Code, 2016, commences from the

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**Reasoning:** The NCLT's order explicitly states that the interim moratorium commences from the date of

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**Interpretation:** The court interpreted **Section 95** to mean that the moratorium's effect is

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**Application:** In this case, the interim moratorium began on the date the petition was filed,

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## Parties

- **Judges:** Venkata Ramakrishn…; SHRI. SANJA…
- **Appellants:** Bank of Bar…
- **Respondents:** G. Sivakuma…
- **Advocates:** Bendi Rav…; Bikki Ravindra…

## Timeline

- **November 29, 2023 — Hearing and…**: The National Company Law Tribunal, Hyderabad Bench, held a hearing and issued an order…
- **November 29, 2023 — RP Appoin…**: Mr. Harish Kant Kaushik was appointed as the…

## 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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