O R D E R

1. This Statutory Appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016 (for short, ‘IBC’) is at the instance of the appellant – State Bank of India seeking to challenge the order passed by the National Company Law Appellate Tribunal (NCLAT), Chennai dated 04.10.2023 by which the Appellate Tribunal dismissed the appeal filed by the State Bank of India and thereby affirmed the order passed by the National Company Law Tribunal (NCLT), Hyderabad.

2. The facts giving rise to this appeal may be summarized as under:-

i) In February, 2020, the Bank filed an application under Section 7 of the IBC before the NCLT.

ii) In November, 2021, the respondent – herein India Power Corporation Limited (IPCL) filed its counter affidavit before the NCLT.

iii) On 13.06.2022, the State Bank of India filed its rejoinder affidavit. However, in filing the rejoinder affidavit, there was a delay as according to the B