# In the matter of State Bank of India Assistant Manager vs. India Power Corporation Limited

> NCLAT judgment dated 2025-02-14. Citation: TCN-2025-NCLAT-00215. This is a statutory appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016…

- **Court:** NCLAT
- **Order date:** 14 Feb 2025
- **Citation:** TCN-2025-NCLAT-00215
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/state-bank-of-india-assistant-manager-vs-india-power-corporation-limited-f4a64231

## Summary

### Background

This is a statutory appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC). The State Bank of India (SBI) is challenging an order passed by the National Company Law Appellate Tribunal (NCLAT), Chennai, which dismissed SBI's appeal and affirmed the order passed by the National Company Law Tribunal (NCLT), Hyderabad. The NCLT order pertained to an application filed by SBI under Section 7 of the IBC.

## Facts

In February 2020, State Bank of India (SBI) filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) before the NCLT. In November 2021, India Power Corporation Limited (IPCL) filed its counter affidavit. SBI filed a rejoinder affidavit on 13.06.2022, but there was a delay in filing it. SBI filed IA No.1547/2022, requesting the delay in filing the rejoinder affidavit to be condoned. The NCLT, Hyderabad, vide order dated 30.01.2023, condoned the delay but directed that any factual assertions pleaded in the rejoinder shall not be taken into consideration while deciding the Section 7 application. The NCLT vide order dated 30.11.2023 rejected the Section 7 application filed by SBI. The NCLAT dismissed the appeal filed by SBI vide order dated

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## Issues and analysis

### Issue 1: Whether the NCLT was justified in not considering the factual assertions made in the rejoinder …

**Ratio:** The ratio is based on the principle that once a delay is condoned, the party should not

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**Reasoning:** The Court reasoned that having permitted the Bank to file their rejoinder after condoning

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**Interpretation:** The interpretation is that once a delay is condoned, the party should not be

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**Application:** In this case, the NCLT condoned the delay in filing the rejoinder affidavit but

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## Parties

- **Judges:** J.B. PARD…; R. MAHA…
- **Appellants:** STATE BANK OF…
- **Respondents:** INDIA POWER…

## Timeline

- **2020-02-01 — Application under…**: State Bank of India filed an application…
- **2021-11-01 — Counter Aff…**: India Power Corporation Limited (IPCL) filed…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 62 — Appeal to Supreme Court](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-62)

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