# In the matter of State Bank of India Vs. T Pavani & Chadalvada Infratech Ltd. , CP (IB)/ 126/2022

> NCLT judgment dated 2022-04-20. Citation: TCN-2022-NCLT-03203. The case pertains to Company Petition IB/126/2022 filed under Section 95 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 20 Apr 2022
- **Citation:** TCN-2022-NCLT-03203
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-t-pavani-chadalvada-infratech-ltd-cp-71c4e13e

## Summary

### Background

The case pertains to Company Petition IB/126/2022 filed under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The petition was filed by State Bank of India against Ms. T. Pavani & Chadalvada Infratech Ltd. The hearing was held on 20-04-2022 through video conference.

## Facts

State Bank of India filed a Company Petition IB/126/2022 against Ms. T. Pavani & Chadalvada Infratech Ltd. under Section 95 of the IBC, 2016. The court convened a hearing on 20-04-2022. The court acknowledged the commencement of an interim moratorium under Section 96(1)(a) of the IBC, 2016, upon the filing of the application. Shri Maligi Madhusudhana Reddy was appointed as the IRP. The IRP is required to submit a report within 10 days as per Section 99 of the IBC, 2016. The petitioner's counsel is instructed to notify the respondents and provide proof of service. The case was adjourned to 13.05.2022. The interim moratorium prevents any legal action or proceedings against the debtor and prohibits creditors from initiating any new legal actions.

## Issues and analysis

### Issue 1: Whether an interim moratorium commences from the date of filing of the application under Section …

**Ratio:** An interim moratorium commences from the date of filing of the application under section

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**Reasoning:** The court explicitly stated that the interim moratorium commences from the date of filing

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**Interpretation:** Section 96(1)(a) of the I&B Code, 2016, is interpreted to mean that the

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**Application:** In this case, the interim moratorium commenced on the date the application was

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## Parties

- **Judges:** Venkata Ramakrishn…; Veera Brahma Rao…
- **Appellants:** State Bank of…
- **Respondents:** Chadalvada…; T. Pavani &…

## Timeline

- **2022-04-20 — Hearing…**: Hearing held on 20-04-2022 at 10:30…
- **2022-05-13 — Adjournmen…**: The matter stands…

## 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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