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Tribunals and CommissionsDivision Bench(2022) 03 NCLT CK 0640

The State Bank Of India vs T Prabhakar

National Company Law Tribunal · Decided on 11 March 2022

HON’BLE JUDGES
Justice (Retd.) S. Ramathilagam, Member (Judicial) · Anil Kumar B, Member (Technical)
CASE NUMBER
CP(IB)/320/CHE/2021

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Judgment

4 paragraphs · 124 words

Per: Justice (Retd.) S. RAMATHILAGAM, MEMBER (JUDICIAL)

Under Consideration is an Application filed under Section 95 of IBC, 2016 seeking Initiation of Insolvency Resolution Process as against Mr. T Prabhakar. A similar application in IBA/785/2020 has been filed by a different creditor (IDBI Trusteeship Services Limited) against the same guarantor. In the said Application this Adjudicating Authority vide order dated 06.01.2022 had appointed an IRP under Section 97 of IBC, 2016.

2.

As per Section 96, IBC, 2016 on filing of an Application under Section 95 of the Code, Interim Moratorium will commence and hence no Application against the same Respondent can be filed before any forum.

3.

In view of the same, the present CP(IB)/320/CHE/2021 stands dismissed with liberty in accordance with law.