# In the matter of State Bank of India Vs. Krishidhan Seeds Pvt. Ltd. Civil Appeal No(s).910-2021

> SC judgment dated 2021-04-05. Citation: TCN-2021-SC-00057. The case involves a civil appeal (No. 910/2021) before the Supreme Court of India. The appeal was…

- **Court:** SC
- **Order date:** 5 Apr 2021
- **Citation:** TCN-2021-SC-00057
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/state-bank-of-india-vs-krishidhan-seeds-pvt-ltd-civil-appeal-no-9dfcc1fa

## Summary

### Background

The case involves a civil appeal (No. 910/2021) before the Supreme Court of India. The appeal was called for hearing on April 5, 2021. The appellant, State Bank of India, is challenging a judgment by the National Company Law Appellate Tribunal (NCLAT). The appellant argues that the NCLAT's interpretation of Section 7 of the Insolvency and Bankruptcy Code 2016, in conjunction with Article 137 of the Limitation Act 1963, is incorrect.

## Facts

The State Bank of India filed a Civil Appeal No(s).910/2021 before the Supreme Court of India against Krishidhan Seeds Pvt. Ltd. The appeal challenges the judgment of the National Company Law Appellate Tribunal (NCLAT) dated 17 November 2020. The appellant argues that the NCLAT incorrectly interpreted Section 7 of the Insolvency and Bankruptcy Code 2016 in relation to Article 137 of the Limitation Act 1963. The appellant contends that the limitation period should not commence solely from the date of default and that Section 18 of the Limitation Act 1963 should also apply. The appellant relies on a prior three-judge bench decision of the Supreme Court in Laxmi Pat Surana v Union Bank of India to support their argument. The case was called for hearing on 05-04-2021 and

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## Issues and analysis

### Issue 1: Whether the principle of law formulated in paragraph 4 of the impugned judgment of the National …

**Ratio:** The ratio is based on the interpretation of Section 7 of the Insolvency and Bankruptcy

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**Reasoning:** The appellant argues that the NCLAT's judgment contradicts the established principle in

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**Interpretation:** The interpretation involves understanding the interplay between the IBC and the

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**Application:** The application involves comparing the NCLAT's judgment with the facts of the

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## Parties

- **Judges:** Dr Dhananjaya Y…; M.R.…
- **Appellants:** State Bank of…
- **Respondents:** KRISHIDHAN SEEDS…
- **Other parties:** Affir…
- **Advocates:** Gopal…; Varghese…; +4 more

## Timeline

- **2020-11-17 — NCLAT Jud…**: The National Company Law Appellate Tribunal…
- **2021-04-05 — Supreme Court…**: The Civil Appeal was called on for…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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