# In the matter of Mahendra Kumar Jajodia Vs. State Bank of India Stressed Asset Management Branch Civil Appeal No(s). 1871 & 1872-2022

> SC judgment dated 2022-03-21. Citation: TCN-2022-SC-00064. The case involves civil appeals (1871-1872/2022) filed by Mahendra Kumar Jajodia against the State…

- **Court:** SC
- **Order date:** 21 Mar 2022
- **Citation:** TCN-2022-SC-00064
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/mahendra-kumar-jajodia-vs-state-bank-of-india-stressed-asset-management-branch-c-f43271db

## Summary

### Background

The case involves civil appeals (1871-1872/2022) filed by Mahendra Kumar Jajodia against the State Bank of India Stressed Asset Management Branch. The appeals were called for hearing on 2022-03-21. The appellant's counsel drew attention to paragraph 108 of a judgment rendered by the court on 2021-05-21 in Transferred Case No. 245 of 2020, Lalit Kumar Jain vs. Union of India & Ors., reported in (2021)9 SCC 321.

## Facts

Mahendra Kumar Jajodia filed civil appeals against the State Bank of India Stressed Asset Management Branch. The appeals were heard on 2022-03-21. The appellant's counsel referred to a previous judgment in Lalit Kumar Jain vs. Union of India & Ors., which discussed Section 60(2) and 60(3) relating to resolution and liquidation processes. Section 60(2) prescribes that in the event of an ongoing resolution process or liquidation process against a corporate debtor, an application for resolution process or bankruptcy of the personal guarantor to the corporate debtor shall be filed with NCLT concerned seized of the resolution process or liquidation. The court stayed the operation of an order passed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi.

## Issues and analysis

### Issue 1: Whether the NCLT has jurisdiction over resolution or bankruptcy applications of personal guarantors …

**Ratio:** Section 60(2) and 60(3) of the relevant act prescribe that the NCLT has jurisdiction over

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**Reasoning:** The court reasoned that Section 60(2) mandates that applications for resolution or

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**Interpretation:** The interpretation of Section 60(2) and 60(3) is that the NCLT is the

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**Application:** In this case, the principle applies because the appeals relate to a situation

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## Parties

- **Judges:** S. ABDUL…; VIKRAM…
- **Appellants:** Mahendra Kumar…
- **Respondents:** STATE BANK OF…
- **Other parties:** Over Tu…

## Timeline

- **2021-05-21 — Previous Ju…**: Judgment rendered in Transferred Case No. 245 of 2020, Lalit Kumar Jain vs. Union of…
- **2022-03-21 — Hearing…**: Appeals were called on…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(2) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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