# In the matter of Indian Pulp & Paper Private Limited C.P. (IB)-69(KB)2022

> NCLT judgment dated 2022-04-22. Citation: TCN-2022-NCLT-03126. State Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 22 Apr 2022
- **Citation:** TCN-2022-NCLT-03126
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/indian-pulp-paper-private-limited-cp-ib-69kb2022-8f53ed90

## Summary

### Background

State Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Indian Pulp & Paper Private Limited. The application was filed before the National Company Law Tribunal (NCLT), Kolkata Bench.

## Facts

State Bank of India (SBI) filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Indian Pulp & Paper Private Limited. The date of default was identified as 30.12.2020. The court noted that this date fell within the period prohibited by Section 10A of the IBC, which temporarily suspended the initiation of CIRP for defaults occurring during a specified period related to the COVID-19 pandemic. Because the default occurred during this prohibited period, the application was deemed not maintainable.

## Issues and analysis

### Issue 1: Whether the application filed by State Bank of India under Section 7 of the IBC is maintainable, …

**Ratio:** Section 10A of the IBC prohibits the initiation of CIRP for defaults occurring during a

…

**Reasoning:** The court reasoned that the date of default, 30.12.2020, falls within the prohibitory

…

**Interpretation:** Section 10A was interpreted to mean that any default occurring during the

…

**Application:** The court applied the ratio of Section 10A to the specific facts of the case,

…

## Parties

- **Judges:** Rajasekha…; Balraj…
- **Appellants:** State Bank of…
- **Respondents:** Indian Pulp &…

## Timeline

- **2020-12-30 — Date of D…**: The date of default by Indian Pulp & Paper…
- **2022-04-22 — Hearing…**: Hearing held on 22nd April, 2022,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/indian-pulp-paper-private-limited-cp-ib-69kb2022-8f53ed90