# In the matter of Mr.CH Ravindra Babu Vs. State Bank of India & Anr. Company Appeal (AT) (CH) (Ins) No.276 of 2021

> NCLAT judgment dated 2022-06-09. Citation: TCN-2022-NCLAT-00427. The appeal was filed under Section 61 R/w Section 7 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLAT
- **Order date:** 9 Jun 2022
- **Citation:** TCN-2022-NCLAT-00427
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/mrch-ravindra-babu-vs-state-bank-of-india-anr-company-appeal-5d7b16e2

## Summary

### Background

The appeal was filed under Section 61 R/w Section 7 of the Insolvency and Bankruptcy Code, 2016 against the order dated 23.09.2021 passed by the National Company Law Tribunal, Hyderabad Bench, in CP No. 1/7/HDB/2020. The appellant, Mr. CH Ravindra Babu, is the Promoter and Director of the Corporate Debtor, Chadalavada Infratech Limited. The first respondent, State Bank of India, is the Financial Creditor, and the second respondent is the Resolution Professional representing the Corporate Debtor, which has been admitted into CIRP.

## Facts

Mr. CH Ravindra Babu, the Promoter and Director of Chadalavada Infratech Limited, filed an appeal against the order dated 23.09.2021 passed by the National Company Law Tribunal (NCLT), Hyderabad Bench, which admitted a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, initiating Corporate Insolvency Resolution Process (CIRP) against Chadalavada Infratech Limited. The State Bank of India (SBI), the Financial Creditor, filed the Section 7 petition, claiming that Chadalavada Infratech Limited had defaulted on a loan facility of Rs. 281.23 Crore. SBI classified the loan as a Non-Performing Asset (NPA) on 15.04.2011. The application under Section 7 was filed on 25.11.2019. The appellant argued that the application was time-barred under the

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## Issues and analysis

### Issue 1: Whether the application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, is …

**Ratio:** Section 18 of the Limitation Act, 1963, provides that if, before the expiration of the

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**Reasoning:** The Adjudicating Authority considered the submissions of both parties and found that the

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**Interpretation:** Section 18 of the Limitation Act is interpreted to mean that any written

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**Application:** In this case, the Corporate Debtor submitted OTS proposals on 19.09.2018,

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## Parties

- **Judges:** M. Venu…; Ashok Kumar…
- **Appellants:** Mr.CH Ravindra…
- **Respondents:** Chadalavada…; State Bank of…

## Timeline

- **2011-04-15 — NPA Decla…**: State Bank of India declared the account of Chadalavada Infratech Limited as a…
- **2018-09-19 — First OTS P…**: Chadalavada Infratech Limited submitted a One Time Settlement (OTS) proposal to State…

## 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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