Page 62 - IBC Orders us 7-CA Mukesh Mohan

Order Passed by Sec 7
Hon’ble NCLT Principal Bench
IN THE NATIONAL COMPANY LAW TRIBUNAL
PRINCIPAL BENCH

C.P. (I.B.) No. 201/7/NCLT/PB/2017

Decided On: 26.07.2017

Applicant: State Bank of India

Vs
Respondent: Bhushan Power and Steel Limited

Judges/Coram:
Hon'ble Sh. M.M. Kumar (Member (J)

Counsels:
For Appellant/Petitioner/Plaintiff: Mr. Bishwajit Dubey, Mr.Manpreet Lamba, Ms. Priyal Moot, Ms.
Surabhi Kattar, Learned Advocates

For Respondents/Defendant: Mr. U.K. Chaudhary, Sr. Advocate Mr. Mahesh Aggarwal, Advocate Mr,
Surnesh Dhawan, Advocate, Mr. Rajeev Kumar, Learned Advocate, Ms. Vatsala Kak, Ms. Shally Bhasin
Ms. Jasuin Dhama, Learned Advocates, Mr. Vivek Sibal, Ms. Jasmine Kottai. Learned Advocats

ORDER

Hon'ble Sh. M.M. Kumar Member (J)

1. The State Bank of India is a Bank established by the State Bank of India Act, 1955. It is a
Parliamentary Legislation which was to transfer all the assets of imperial Bank of India to it. The Act
made various provisions with regard to the transfer and other matter connected with or incidental thereto.

There are many other developments which might have taken place but in the present case we are
concerned with the merger of other five subsidiaries Banks into State Bank of India namely State Bank of

Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State of Patiala and State Bank of
Travancore. As a result of merger, the combination has become the first Indian lender bank to rank
amongst the world's top 50 banks. A document with regard to merger has been placed on record of this

petition. The merger has taken place w.e.f. 01.04.2017 vide notification dated 22.02.2017. The gazette
notification to this effect has been placed on record (Annexure P/1).

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