# In the matter of State Bank of India Vs. T Yugandhar, CP (IB)/131/2022

> NCLT judgment dated 2022-04-20. Citation: TCN-2022-NCLT-04946. 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-04946
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/state-bank-of-india-vs-t-yugandhar-cp-9a5e2a1a

## Summary

### Background

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

## Facts

State Bank of India filed a Company Petition under Section 95 of the IBC, 2016.

The court ordered an interim moratorium to commence from the date of filing the application.

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

Shri Maligi Madhusudhana Reddy is appointed as the IRP.

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

The petitioner's counsel is directed to issue notice to the respondents and file proof of service.

The matter is adjourned to 13.05.2022.

## Issues and analysis

### Issue 1: Whether an interim moratorium should be ordered following the filing of the application under …

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

…

**Reasoning:** The court considered the application filed under Section 95 of the IBC, 2016 and deemed

…

**Interpretation:** Section 96(1)(a) allows for the commencement of an interim moratorium upon the

…

**Application:** The court applied Section 96(1)(a) and ordered the commencement of the interim

…

## Parties

- **Judges:** Venkata Ramakrishn…; Veera Brahma Rao…
- **Appellants:** State Bank of…
- **Respondents:** Chadalvada…; T. Yuga…
- **Other parties:** Maligi Madhusudhan…
- **Advocates:** Alluri Krishnam…

## 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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