# In the matter of State Bank of India vs. Dr. Jitendra Das Maganti and Anr.

> NCLAT judgment dated 2025-10-24. Citation: TCN-2025-NCLAT-00525. These are two Company Appeals, being Company Appeal (AT) (CH) (INS) No. 360 / 2024 & Company…

- **Court:** NCLAT
- **Order date:** 24 Oct 2025
- **Citation:** TCN-2025-NCLAT-00525
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-chennai/state-bank-of-india-vs-dr-jitendra-das-maganti-and-anr-17747b87

## Summary

### Background

These are two Company Appeals, being Company Appeal (AT) (CH) (INS) No. 360 / 2024 & Company Appeal (AT) (CH) (INS) No. 361 / 2024, based on a common question of fact and law, are being decided together.

## Facts

The Company Appeal (AT) (CH) (INS) No. 360 / 2024, has been preferred by the Appellant, being aggrieved as against the order dated 22.07.2024, which has been passed by the Ld. Adjudicating Authority in CP (IB) / 49 / 95 / AMR / 2022.

The application preferred by the appellant, State bank of India (the financial creditor) under Section 95 of I & B Code as against the respondent, Dr Jitendra Das Maganti has been rejected.

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## Issues and analysis

### Issue 1: Whether the issuance of a demand notice under section 95(4)(b) of the I&B Code is directory or …

**Ratio:** The service of a demand notice under Rule 7(1) of the Insolvency and Bankruptcy

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**Reasoning:** Section 95(6) stipulates that the application under section 95(1) shall be in such form

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**Interpretation:** The harmonious interpretation of Section 95(4)(b) of the Code with the

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**Application:** The argument that no demand notice is required to be served for the purposes of

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## Parties

- **Judges:** Sharad Kumar…; Jatindranat…
- **Appellants:** State Bank of…; Chillale…
- **Respondents:** M/s. Sevenhills…; Jitendra Das…; +2 more
- **Advocates:** Pranava C…; Dwarakesh…

## Timeline

- **2024-07-22 — Order Da…**: Date of the order passed by the Ld. Adjudicating Authority in CP (IB) / 49 / 95 / AMR /…
- **2024-07-22 — Order Da…**: Date of the order rendered by the Ld. NCLT, Amaravati Bench in CP (IB) / 50 / 95 / AMR /…

## 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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