# In the matter of State Bank of India Vs. Manibhadra Polycot & Ors. Civil Appeal Nos. 4392 & 4393-2019

> SC judgment dated 2019-08-09. Citation: TCN-2019-SC-00039. The National Company Law Appellate Tribunal (NCLAT) had excluded 21 days from the 270-day period…

- **Court:** SC
- **Order date:** 9 Aug 2019
- **Citation:** TCN-2019-SC-00039
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/state-bank-of-india-vs-manibhadra-polycot-ors-civil-appeal-nos-4392-4393-2019-9f9c05c7

## Summary

### Background

The National Company Law Appellate Tribunal (NCLAT) had excluded 21 days from the 270-day period allowed under the Insolvency Code. This 21-day exclusion was divided into three clusters: 7 days (17.11.2017 to 23.11.2017), 11 days (06.03.2018 to 17.03.2018), and 3 days (08.08.2018 to 10.08.2018).

## Facts

The National Company Law Appellate Tribunal (NCLAT) excluded 21 days from the 270-day period allowed under the Insolvency Code. The 21 days were divided into three clusters: a cluster of 7 days from 17.11.2017 to 23.11.2017, another cluster of 11 days between 06.03.2018 and 17.03.2018, and a third cluster of 3 days between 08.08.2018 and 10.08.2018. The resolution plan was submitted on 08.05.2019. The impugned order was dated 01.05.2019. The Supreme Court found that the first two sets of days (7 and 11 days) should not have been excluded as they were not incurred in any litigation process. Even if the last cluster of 3 days was excluded and added to 01.05.2019, the date reached was 04.05.2019. The resolution plan was submitted on 08.05.2019, which was beyond the

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## Issues and analysis

### Issue 1: Whether the National Company Law Appellate Tribunal (NCLAT) was correct in excluding 21 days from …

**Ratio:** The exclusion of days from the 270-day period is only justified if those days were

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**Reasoning:** The court reasoned that the first two sets of days (7 and 11 days) were not incurred in

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**Interpretation:** The interpretation of the Insolvency Code requires that only days spent in

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**Application:** The court applied this principle to the facts and found that the NCLAT erred in

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## Parties

- **Judges:** ROHINTON FALI…; SURYA…
- **Appellants:** State Bank of…
- **Respondents:** M/S. MANIBHADRA…

## Timeline

- **2017-11-17 — First Cluster of…**: Start of the first cluster of…
- **2017-11-23 — End of First Cluster of…**: End of the first cluster of…

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