WRONG ! According to Dodd from his book "Dodd's Luck" on pages 221-222, the incident occurred during a Tech punt to Alabama. After a fair catch was called by Alabama’s Billy Richardson, Graning, who was away from the ball toward the sideline, relaxed when the ball was caught. Play over. That's when Holt slammed his elbow underneath Graning's face mask.
It's possible that Dodd like me was aged and his memory was possibly a little shot. The films tell the real story. I've seen the films and I suggest someone post and link the play, films tell the real story. I was about middle of the stadium (Legion Field), my memory also may be shot as well. But I remember a pass play. The films have a different angle than I had so they tell a very good tale of what really happened to Graning, as for the injury it was not only bad it was devastating.
As for disciplining Holt, in the bowl game against Arkansas they put Holt out of the game as I had predicted. I believe the coach of Arkansas was one of our boys. Bama won the game but Holt was on the sidelines watching not playing.