State Bank of India Vs. Anil Dhirajlal Ambani

Last updated: 22 August 2020

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The National Company Law Tribunal (NCLT) Mumbai Bench, hearing urgent matters via video conference due to the COVID-19 pandemic, issued a common order in two applications (IA No. 1009 and IA No. 1010 of 2020) concerning State Bank of India and Anil Dhirajlal Ambani. While certain prayers in the applications were allowed, others were refused. The tribunal rejected the respondent's request for a stay on the order's implementation.

Court :
MUMBAI BENCH SPECIAL BENCH, COURT No. II

Brief :
The work of the Tribunal has been closed due to Covid-19 pandemic as per letter dated 22.03.2020 and subsequent follow-up orders of the Principal Bench, National Company Law Tribunal. The Principal Bench vide Notice dated 15.06.2020, constituted this Bench for hearing of the urgent matters through Video Conference (VC).

Citation :
State Bank of India Vs. Anil Dhirajlal Ambani

NATIONAL COMPANY LAW TRIBUNAL
MUMBAI BENCH
SPECIAL BENCH, COURT No. II
*** *** ***
IA No. 1009 of 2020inCP (IB) 916 (MB) of 2020
IA No. 1010 of 2020 in CP (IB) 917(MB) of 2020
*** *** ***
State Bank of India
Vs.
Anil Dhirajlal Ambani
*** *** ***
Dated 20th August, 2020

The work of the Tribunal has been closed due to Covid-19 pandemic as per letter dated 22.03.2020 and subsequent follow up orders of the Principal Bench, National Company Law Tribunal. The Principal Bench vide Notice dated 15.06.2020, constituted this Bench for hearing of the urgent matters through Video Conference (VC).

The matter is taken up on VC. The Counsels for Applicant led by Mr. V. R. Dhond, Sr. Advocate with Mr. Ryan Dsouza & Mr. Nirav Shah and the Counsels for the Respondent led by Mr. J. J. Bhatt, Sr. Advocate with D.J. Kakalia,J. P. Mishra and Raghavi Sharma are present. A Common order is passed in IA No. 1009 of 2020 and IA No. 1010 of 2020 as per separate order. Prayer (a) in both the Applications are allowed as detailed in the order and Prayer (b) in both the Applications are refused. Learned Senior Counsel Mr. J.J. Bhatt appearing for the Respondent submitted that some time may be allowed to him before the order is implemented and to stay the operation of order till then. Learned Senior Counsel Mr. V.R. Dhond appearing for the Applicant opposed the submissions. Considering the fact that the IAs has been disposed of, we are not persuaded to stay the operation of the order or to extend the implementation of the order to a future date. Accordingly, the request made by the Learned Counsel for the Respondent is not accepted. Upload the order for information of the parties.

Sd/-
MEMBER JUDICIAL
(Janab Mohammed Ajmal)

Sd/-
MEMBER TECHNICAL
(Ravikumar Duraisamy)

To read/view the full judgement, find the enclosed file

FAQ :

The case involved applications heard by the National Company Law Tribunal (NCLT) Mumbai Bench concerning State Bank of India and Anil Dhirajlal Ambani.

The hearing was conducted via video conference because the Tribunal's work was closed due to the COVID-19 pandemic, as per directives from the Principal Bench.

In both applications (IA No. 1009 and IA No. 1010 of 2020), certain prayers were allowed, while other prayers were refused by the Tribunal.

No, the Tribunal refused the respondent's request to stay the operation of the order or extend its implementation to a future date.