# In the matter of Uttam Jaiswal vs. State Bank of India & Anr.

> NCLAT judgment dated 2026-01-06. Citation: TCN-2026-NCLAT-00013. An appeal was filed against an order dated 16.05.2025, which admitted an application filed by…

- **Court:** NCLAT
- **Order date:** 6 Jan 2026
- **Citation:** TCN-2026-NCLAT-00013
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/uttam-jaiswal-vs-state-bank-of-india-anr-88a42cc0

## Summary

### Background

An appeal was filed against an order dated 16.05.2025, which admitted an application filed by the State Bank of India under Section 7 of the Insolvency and Bankruptcy Code (IBC).

## Facts

The appeal was filed against an order dated 16.05.2025 admitting an application under Section 7 of the IBC.

The Appellant submitted a fresh OTS proposal to the State Bank of India.

The Tribunal directed the IRP to invite and collate claims but not to constitute the CoC.

The State Bank of India accepted the OTS proposal from the Appellant, and a sanction letter dated 26.12.2025 was received.

The Appellant approached Indian Bank with an OTS proposal.

The State Bank of India was directed to provide Form FA to the Resolution Professional for filing a Section 12A application.

## Issues and analysis

### Issue 1: Whether the appeal should be kept pending given …

**Ratio:** The State Bank of India has accepted

…

**Reasoning:** Since the State Bank of India has accepted the OTS, there is no reason to keep the appeal

…

**Interpretation:** The acceptance of the OTS by the Financial Creditor provides a basis for

…

**Application:** The appeal is disposed of, and the parties are directed to pursue the OTS

…

## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Uttam Ja…
- **Respondents:** State Bank of…
- **Other parties:** Indian…
- **Advocates:** Aakansha…; Shrishti J…; +8 more

## Timeline

- **16.05.2025 — Order Da…**: Order passed by which an application filed by the State Bank of India under Section 7 was…
- **30.05.2025 — Tribunal…**: Tribunal noticed that the Appellant had submitted a fresh proposal to the State Bank of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12A — (1) Subject to sub](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12a)

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