# In the matter of Indian Bank vs. State Bank of India & Ors.

> NCLAT judgment dated 2024-10-15. Citation: TCN-2024-NCLAT-00161. The appeal was filed against the order passed by the Adjudicating Authority dated 2024-07-06,…

- **Court:** NCLAT
- **Order date:** 15 Oct 2024
- **Citation:** TCN-2024-NCLAT-00161
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/indian-bank-vs-state-bank-of-india-ors-69e2df09

## Summary

### Background

The appeal was filed against the order passed by the Adjudicating Authority dated 2024-07-06, which allowed the Intervention Petition P-7/2024 filed by the State Bank of India. The Indian Bank filed the appeal, contending that it was the applicant in Section 95 Applications and there was no reason to permit State Bank of India to intervene.

## Facts

The Indian Bank filed an application under Section 95. The State Bank of India sought to intervene in the matter. The Adjudicating Authority allowed the intervention. The Indian Bank filed an appeal against the order allowing the intervention. The Indian Bank contended that it was the applicant in Section 95 Applications and there was no reason to permit State Bank of India to intervene. The State Bank of India argued that it is the lead bank and there was a guarantee with the banks. The Corporate Debtor's resolution plan has been approved, which needs to be implemented. The court considered the submissions of both parties and perused the record.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in permitting State Bank of India to intervene in the …

**Ratio:** The court has the discretion to allow intervention if it deems it necessary for the

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**Reasoning:** The court found no error in the Adjudicating Authority's order permitting State Bank of

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**Interpretation:** The court interpreted the relevant provisions of the Insolvency and Bankruptcy

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**Application:** The court applied the ratio to the facts of the case and concluded that the

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Indian…
- **Respondents:** State Bank of…

## Timeline

- **2024-07-06 — Adjudicating Authority…**: The Adjudicating Authority passed an order allowing the Intervention Petition P-7/2024…
- **2024-10-15 — Hearing…**: The court heard the Learned…

## 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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