State Bank of India vs Atibir Industries Co. Ltd.

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2024 Supreme(Cal) 1217

DEBANGSU BASAK, MD. SHABBAR RASHIDI
State Bank of India – Appellant
Versus
Atibir Industries Co. Ltd. – Respondent

Advocates Appeared:
For the Appellant : Mr. Om Narayan Rai, Mr. Santosh Kr. Ray, Ms. Rituparna Sanyal, Ms. Antalina Guha.
For the Respondents: Mr. Ranjan Bachawat, Sr. Adv., Mr. Suman Kr. Dutt, Mr. Arijit Bardhan, Mr. Sarosij Dasgupta, Mr. Soumyajit Mishra, Mr. S.N. Mukherjee, Sr. Adv., Mr. Abhrajit Mitra, Mr. Subhankar Nag, Mr. Sarvapriya Mukherjee, Mr. B. Kumar, Mr. I. Basu, Mr. Naman Choudhury.

Table of Content
1. appeals against a common judgment. (Para 1 , 2)
2. sbi's contention on loan classification and restructuring. (Para 3 , 4 , 5 , 6 , 7 , 8 , 9 , 10)
3. arc's arguments on valid assignment and borrower classification. (Para 12 , 13 , 14 , 15 , 16 , 17 , 18 , 19 , 20 , 21)
4. borrower's defense against npa classification. (Para 22 , 23 , 24 , 25 , 26 , 27 , 28 , 29 , 30 , 31 , 32 , 33 , 34 , 35 , 36)
5. legal framework on financial asset transfer. (Para 55 , 56 , 57 , 58 , 59 , 60 , 61 , 62 , 63)
6. impact of covid-19 on loan classifications. (Para 64 , 65 , 66 , 67 , 68 , 69)
7. clarification on sbi's options for asset recovery. (Para 70 , 71 , 72 , 73)
8. assessment of sbi's actions against legal standards. (Para 74 , 75 , 76 , 77 , 78)
9. clarification on validity of the npa classification. (Para 79 , 80)
10. legal grounds for appeal procedures. (Para 81 , 82 , 83 , 84)
11. judicial interpretation of non-response to notices. (Para 85 , 86 , 87 , 88 , 89)
12. summary of court's justification of actions taken. (Para 90 , 91 , 92 , 93 , 94 , 95)
13. final ruling on the appeals. (Para 97 , 98)

JUDGMENT :

Debangsu Basak, J.

Preface

Contentions of SBI

Contentions

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2024 Supreme(Cal) 1217

DEBANGSU BASAK, MD. SHABBAR RASHIDIState Bank of India – AppellantVersusAtibir Industries Co. Ltd. – Respondent

Cases Referred (16)

DEBANGSU BASAK, MD. SHABBAR RASHIDI
State Bank of India – Appellant
Versus
Atibir Industries Co. Ltd. – Respondent