# In the matter of State Bank of India Vs. Mr. CH Adeiah, CP (IB)/109/2022

> NCLT judgment dated 2022-04-04. Citation: TCN-2022-NCLT-03408. The case pertains to a company petition, IB/109/2022, filed under Section 95 of the Insolvency…

- **Court:** NCLT
- **Order date:** 4 Apr 2022
- **Citation:** TCN-2022-NCLT-03408
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-mr-ch-adeiah-cp-007776c1

## Summary

### Background

The case pertains to a company petition, IB/109/2022, filed under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The State Bank of India (Stressed Assets Management Branch) filed the petition against Mr. CH Adeiah. The hearing was held on April 4, 2022, via video conference.

## Facts

State Bank of India (Stressed Assets Management Branch) filed a company petition (IB/109/2022) against Mr. CH Adeiah under Section 95 of the IBC, 2016. The hearing took place on April 4, 2022, via video conference. Upon filing the petition, an interim moratorium commenced, as per Section 96(1)(a) of the IBC. Section 96(1)(b) governs legal actions during this period, staying any pending legal actions and preventing creditors from initiating new ones. Shri Maligi Madhusudhana Reddy was appointed as the IRP and is required to submit a report under Section 99 of the IBC within 10 days. The respondents must file a reply within one week, and the petitioner has one week to file a rejoinder. The case was adjourned to April 29, 2022.

## Issues and analysis

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

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

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**Reasoning:** The court referenced Section 96(1)(a) of the I&B Code, 2016, which explicitly states

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

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**Application:** In this case, the court applied Section 96(1)(a) to commence the interim

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. VEERA BRAHMA…
- **Appellants:** State Bank of…
- **Respondents:** CH Ad…
- **Advocates:** Suryanaraya…

## Timeline

- **2022-04-04 — Hearing…**: Hearing held on April 4,…
- **N/A — Interim Moratorium…**: Interim Moratorium commences from…

## 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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