# In the matter of Rajratan Babulal Agarwal Vs State Bank Of India & Anr.

> NCLAT judgment dated 2023-02-28. Citation: TCN-2023-NCLAT-00695. The case involves an appeal against an impugned order. The appellant is in dialogue with the…

- **Court:** NCLAT
- **Order date:** 28 Feb 2023
- **Citation:** TCN-2023-NCLAT-00695
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/rajratan-babulal-agarwal-vs-state-bank-of-india-anr-0a12d5e2

## Summary

### Background

The case involves an appeal against an impugned order. The appellant is in dialogue with the bank for submitting an OTS proposal, and correspondence has taken place between them. The appellant is awaiting a reply from the bank regarding the expected amount and manner of deposit. The appellant's counsel submits that the appellant will endeavor to enter into settlement and try to liquidate the debt as per the bank's decision.

## Facts

Rajratan Babulal Agarwal filed an appeal against State Bank of India & Anr. The appellant is in continuous dialogue with the bank for submitting an OTS proposal after the passing of the impugned order. Correspondence has occurred between the appellant and the bank, and the appellant is awaiting a reply from the bank regarding the expected amount and manner of deposit. The appellant's counsel stated that the appellant will endeavor to enter into settlement and try to liquidate the debt as per the bank's decision. The IRP is directed not to constitute the Committee of Creditors and to refrain from further steps except collation and verification of the claim.

## Issues and analysis

### Issue 1: Whether the appeal …

**Ratio:** The court has the discretion to admit or reject an appeal based on its merits and

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**Reasoning:** The court listed the appeal for admission on April 11, 2023, indicating that it will

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**Interpretation:** The listing of the appeal 'For Admission' implies a preliminary assessment of

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**Application:** The court will determine whether the appeal presents a valid legal argument and

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Rajratan Babulal…
- **Respondents:** State Bank of…

## Timeline

- **2023-02-15 — Impugned Ord…**: The date of the order…
- **2023-02-28 — Appellant's Su…**: Appellant's counsel submits that the appellant is in continuous dialogue with the Bank…

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