# In the matter of State Bank of India Vs. Rajya Lakshmi, CP (IB)/123/2022

> NCLT judgment dated 2022-04-20. Citation: TCN-2022-NCLT-04950. The case pertains to a Company Petition filed under Section 95 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 20 Apr 2022
- **Citation:** TCN-2022-NCLT-04950
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/state-bank-of-india-vs-rajya-lakshmi-cp-8ff7a8a7

## Summary

### Background

The case pertains to a Company Petition filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC).

## Facts

Company Petition IB/123/2022 was filed under Section 95 of the IBC, 2016.

An interim moratorium commences from the date of filing of the application under section 96(1)(a) of the I&B Code, 2016.

Legal actions are governed under section 96(1)(b) of the I&B Code, 2016.

Shri Maligi Madhusudhana Reddy is appointed as IRP with Registration No. IBBI/IPA-001/IP-P00843/2017-2018/11427.

The IRP is to file a report under section 99 of the I&B Code, 2016 within 10 days from the date of appointment.

The matter is adjourned to 13.05.2022.

## Issues and analysis

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

**Ratio:** Section 96(1)(a) of the

…

**Reasoning:** The court considered the application and deemed it appropriate to order an interim

…

**Interpretation:** An interim moratorium commences from the

…

**Application:** The interim moratorium is applied to any legal action or proceeding pending in

…

## Parties

- **Judges:** Venkata Ramakrishn…; SH. VEERA BRAHMA…
- **Appellants:** State Bank of…
- **Respondents:** Chadalvada…; Rajya Lakshmi &…
- **Other parties:** Maligi Madhusudhan…

## 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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