# In the matter of Insolvency & Bankruptcy Board of India Vs. State Bank of India & Ors. LPA 566-2018 & CM APPL. 41158-2018

> HC judgment dated 2022-05-04. Citation: TCN-2022-HC-00048. This is an appeal against an interlocutory order dated 2018-09-26 passed by a single judge in…

- **Court:** HC
- **Order date:** 4 May 2022
- **Citation:** TCN-2022-HC-00048
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-new-delhi/insolvency-bankruptcy-board-of-india-vs-state-bank-of-india-ors-lpa-566-2018-cm-47c2c1f5

## Summary

### Background

This is an appeal against an interlocutory order dated 2018-09-26 passed by a single judge in W.P.(C) No.10189/2018. The single judge allowed the existing 'Expression of Interest' issued by the Resolution Professional (RP) to progress. The single judge observed that the order dated 2018-09-05 passed by the National Company Law Tribunal (NCLT) in the matter of State Bank of India vs. Su Kam Power Systems Ltd will not impede matters where 'Expression of Interest' has already been issued by the RPs. The appellant had challenged this through W.P.(C) No. 10189/2018.

## Facts

The appellant filed an appeal against an interlocutory order dated 2018-09-26 passed by a single judge in W.P.(C) No.10189/2018. The single judge's order allowed the 'Expression of Interest' issued by the Resolution Professional (RP) to proceed. The single judge also noted that an order dated 2018-09-05 passed by the NCLT in the matter of State Bank of India vs. Su Kam Power Systems Ltd would not impede matters where 'Expression of Interest' had already been issued. The appellant had challenged the NCLT order through W.P.(C) No. 10189/2018. A predecessor Bench had stayed the operation of the NCLT order dated 2018-09-05. Regulation 36A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 was relevant to

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## Issues and analysis

### Issue 1: Whether the interlocutory order dated 2018-09-26 passed by the single judge in W.P.(C) …

**Ratio:** The court did not explicitly rule on the soundness of the interlocutory order but

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**Reasoning:** The court reasoned that a final decision on the writ petition was necessary to resolve

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**Interpretation:** The court acknowledged the need for a comprehensive review of the interlocutory

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**Application:** The court's direction implies that the single judge should re-evaluate the

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## Parties

- **Judges:** RAJIV SHA…; POONAM A.…
- **Appellants:** Mr.Vikas…
- **Respondents:** Su Kam Power…; State Bank of…

## Timeline

- **2018-09-05 — NCLT Ord…**: Order passed by the National Company Law Tribunal (NCLT) in the matter of State Bank of…
- **2018-09-26 — Single Judg…**: Interlocutory order passed by the learned single judge in W.P.(C) No.10189/2018, allowing…

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