# In the matter of Radheshyam Fibres Pvt. Ltd. Vs. State Bank of India IA No. 750 CA (AT) No. 187-2017

> NCLAT judgment dated 2017-11-14. Citation: TCN-2017-NCLAT-00068. The case involves an application for substitution of an aggrieved person, Popatbhai Ramjibhai…

- **Court:** NCLAT
- **Order date:** 14 Nov 2017
- **Citation:** TCN-2017-NCLAT-00068
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/radheshyam-fibres-pvt-ltd-vs-state-bank-of-india-ia-no-750-ca-973b58e7

## Summary

### Background

The case involves an application for substitution of an aggrieved person, Popatbhai Ramjibhai Bhalara, a shareholder of the corporate debtor, to be substituted as the appellant. The original 'Corporate Debtor', Radheshyam Fibres Pvt. Ltd., through Interim Resolution Professional, is to be transposed as the 2nd Respondent. The application is based on a recent decision of the Supreme Court in 'Innoventive Industries Ltd. vs. ICICI Bank and Ors.'

## Facts

Radheshyam Fibres Pvt. Ltd. was the original appellant in a Company Appeal (AT) (Insolvency) No. 187 of 2017. Popatbhai Ramjibhai Bhalara, a shareholder of the corporate debtor, filed an application (I.A. No. 750 of 2017) seeking to be substituted as the appellant. The application was based on the Supreme Court's decision in 'Innoventive Industries Ltd. vs. ICICI Bank and Ors.'. The court heard the counsels and allowed the substitution, transposing Radheshyam Fibres Pvt. Ltd. as the 2nd Respondent.

## Issues and analysis

### Issue 1: Whether the application for substitution of Popatbhai Ramjibhai Bhalara as the appellant in place …

**Ratio:** The ratio is based on the court's discretion to allow substitution when sufficient

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**Reasoning:** The court reasoned that the grounds presented by Popatbhai Ramjibhai Bhalara, a

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**Interpretation:** The interpretation involves understanding the scope and applicability of the

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where a

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## Parties

- **Judges:** S.J. Mukhop…; A.I.S. C…; +1 more
- **Respondents:** Radheshyam Fibres…; State Bank of…

## Timeline

- **2017-11-14 — Order Da…**: The court allowed the application for substitution of Popatbhai Ramjibhai Bhalara as the…

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