# In the matter of Rakeshkumar Hariram Agarwal vs. State Bank of India & Ors.

> NCLAT judgment dated 2025-12-16. Citation: TCN-2025-NCLAT-00608. The case involves appeals against orders passed by the Adjudicating Authority. CA (AT) (Ins)…

- **Court:** NCLAT
- **Order date:** 16 Dec 2025
- **Citation:** TCN-2025-NCLAT-00608
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/rakeshkumar-hariram-agarwal-vs-state-bank-of-india-ors-0e139715

## Summary

### Background

The case involves appeals against orders passed by the Adjudicating Authority. CA (AT) (Ins) No. 1992 of 2025 challenges an order dismissing I.A No. 5265 of 2025 filed by the Appellant. CA (AT) (Ins) No. 1914 & 1915 of 2025 challenges an order allowing I.A No. 5266 of 2025 filed by State Bank of India for replacement of Resolution Professional and in I.A No. 5265 of 2025 which was filed by the Appellant, suspended director notices were issued and reply was called for.

## Facts

Rakeshkumar Hariram Agarwal filed appeals challenging orders related to I.A No. 5265, 5266 of 2025.

The Adjudicating Authority allowed I.A No. 5266 of 2025 filed by State Bank of India for replacement of Resolution Professional.

The Appellant is a suspended director of the Corporate Debtor.

The Appellant initiated proceedings under Section 10 of the Code.

The Appellant claims the debt of State Bank of India is barred by time.

State Bank of India contends the Appellant initiated insolvency proceedings based on its debt and a DRT decree exists.

The Adjudicating Authority rejected I.A No. 5265 of 2025 filed by the Appellant.

…

## Issues and analysis

### Issue 1: Whether the claim of State Bank …

**Ratio:** The claim is not barred

…

**Reasoning:** The Appellant itself initiated insolvency proceedings based on SBI's debt. A decree was

…

**Interpretation:** The Appellant cannot claim the debt is time-barred after initiating insolvency

…

**Application:** The Adjudicating Authority's decision to reject the Appellant's claim that the

…

## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Rakeshkumar…; State Bank of…
- **Respondents:** State Bank of…
- **Advocates:** Pranjit Bhattachar…; Salonee S…; +6 more

## Timeline

- **16.12.2025 — Filing of A…**: CA (AT) (Ins) No. 1992 of 2025 was filed challenging the order 03.12.2025. CA (AT) (Ins)…
- **03.12.2025 — Order Da…**: Order by which I.A No. 5265 of 2025 filed…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/rakeshkumar-hariram-agarwal-vs-state-bank-of-india-ors-0e139715