# In the matter of Rajesh Vilasrao Patil & Ors. vs. Savannah Lifestyle Pvt. Ltd. & Anr.

> NCLAT judgment dated 2025-08-21. Citation: TCN-2025-NCLAT-00436. The case involves two appeals against the same order dated 28.07.2023 passed by the National…

- **Court:** NCLAT
- **Order date:** 21 Aug 2025
- **Citation:** TCN-2025-NCLAT-00436
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/rajesh-vilasrao-patil-ors-vs-savannah-lifestyle-pvt-ltd-anr-4f02dac9

## Summary

### Background

The case involves two appeals against the same order dated 28.07.2023 passed by the National Company Law Tribunal, Mumbai Bench, Court-II, admitting a Section 7 application filed by Savannah Lifestyle Private Limited against Shaila Clubs and Resorts Pvt. Ltd. (Corporate Debtor).

## Facts

Shaila Clubs and Resorts Pvt. Ltd. (Corporate Debtor) obtained financial facilities from a Consortium of Bank including Vasantdada Shetkari Sahakari Bank in 2005.

Savannah Lifestyle Pvt. Ltd. entered into a Conducting Agreement with the Corporate Debtor on 18.05.2007 for 15 years and six months.

The Cooperative Bank issued a Recovery Certificate on 23.02.2012 against the Corporate Debtor for recovering an amount of Rs.5,11,51,489.

The Cooperative Bank sent an OTS letter dated 06.06.2022 making an offer to pay a lumpsum amount of Rs.77,16,350 towards the outstanding loan of the Corporate Debtor.

The Cooperative Bank withdrew the OTS offer and returned the amount of Rs.87.92 lakhs paid by Savannah Lifestyle Pvt. Ltd.

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## Issues and analysis

### Issue 1: Whether the assignment of debt from the Cooperative Bank to Savannah Lifestyle Pvt. Ltd. was valid …

**Ratio:** The Bombay High Court has held that the transfer of the loan account of Shaila Clubs in

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**Reasoning:** The 2021 RBI Directives stipulate that the assignment/transfer/acquiring of any loans can

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**Interpretation:** The assignment of debt was in violation of the RBI guidelines and therefore

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**Application:** Since the assignment was unlawful, Savannah Lifestyle Pvt. Ltd. could not claim

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Rajesh Vilasrao…; Vasantdada…
- **Respondents:** Shaila Clubs and…; Savannah Lifestyle…
- **Other parties:** Amit…
- **Advocates:** Arun Kath…; Ruby Singh…; +12 more

## Timeline

- **2005 — Financial Fac…**: Shaila Clubs and Resorts Pvt. Ltd. obtained financial facilities from Consortium of Bank…
- **2007-05-18 — Conducting Ag…**: Savannah Lifestyle Pvt. Ltd. entered into a Conducting Agreement with the Corporate…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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