# In the matter of Erragam Sudhir Reddy vs. State Bank of India & Anr. (IA No. 373, 374-2023) in Company Appeal (AT) (CH) (Ins) No. 103-2023

> NCLAT judgment dated 2023-04-20. Citation: TCN-2023-NCLAT-00593. The case originates from an impugned order dated 2023-03-23 in C.P.(IB) No. 207/7/HDB/2022,…

- **Court:** NCLAT
- **Order date:** 20 Apr 2023
- **Citation:** TCN-2023-NCLAT-00593
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/erragam-sudhir-reddy-vs-state-bank-of-india-anr-67c16140

## Summary

### Background

The case originates from an impugned order dated 2023-03-23 in C.P.(IB) No. 207/7/HDB/2022, passed by the National Company Law Tribunal, Hyderabad Bench. The appeal is filed under Section 61 of the Insolvency and Bankruptcy Code, 2016. The court found arguable points involved in the appeal and issued a notice.

## Facts

Erragam Sudhir Reddy filed an appeal against State Bank of India & Anr. arising out of an impugned order dated 2023-03-23 passed by the National Company Law Tribunal, Hyderabad Bench in C.P.(IB) No. 207/7/HDB/2022. The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016. The court found arguable points in the appeal and issued a notice to the respondents. The appellants were directed to deposit the necessary costs for the notice. Respondent No. 1 was directed to file a reply within three weeks, and the appellant was given one week to file a rejoinder. Further proceedings in the matter were stayed until the next hearing on June 14, 2023.

## Issues and analysis

### Issue 1: Whether there are arguable …

**Ratio:** The court must determine if the appeal presents valid legal arguments that warrant

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**Reasoning:** The court found that there are arguable points involved in the appeal, which is the basis

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**Interpretation:** The presence of arguable points suggests that the appeal is not frivolous and

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**Application:** The court's finding of arguable points justifies the decision to proceed with

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## Parties

- **Judges:** Rakesh Kuma…; Shreesha…; +1 more
- **Appellants:** Erragam Sudhir…
- **Respondents:** State Bank of…
- **Advocates:** ARVIND PA…; Avinash Krishnan…; +5 more

## Timeline

- **2023-03-23 — Impugned…**: Date of the impugned order passed by the National Company Law Tribunal, Hyderabad Bench…
- **2023-04-20 — Order…**: The court heard Counsel for the Appellant and found that there are arguable points…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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