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Order Passed under Sec 7
By Hon’ble NCLT New Delhi-III Bench

IN THE NATIONAL COMPANY LAW TRIBUNAL
NEW DELHI BENCH

C.P. (I.B.) No. 189/7/NCLT/ND/2017

Decided On: 30.08.2017

Applicant: State Bank of India
Vs
Respondent: Namdhari Food International Pvt. Ltd.

Judges/Coram:
Hon'ble Sh .R. Varadharajan,. Member (J)

Counsels:
For Appellant/Petitioner/Plaintiff: Rohit Oberoi, Vipin Bhaskar, Ishaan Verma and Pranav Gambhir,
Advocates

For Respondents/Defendant: None

ORDER

Hon'ble Sh. R. Varadharajan, Member (J)

1. This is an application which has been filed by State Bank of India in the capacity as a 'Financial
Creditor' of the 'Corporate Debtor' namely, Namdhari Food International Pvt. Ltd. the respondent on the
ground that it has committed a 'default' in the repayment of amounts owed under financial facilities which

were granted to the 'Corporate Debtor' on different dates, the latest being vide sanction letter dated
7.4.2016. The Applicant avers that the facilities which were extended to the 'Corporate Debtor' by way of

consortium loan, wherein, both the Applicant Bank as well as the State Bank of Patiala had sanctioned
overall financial facilities to the tune of Rs. 63.56 crores and the following table shows the exposure of
each bank in relation to the financial facilities granted to the 'Corporate Debtor' namely:

State Bank of India Rs.48.56 crores

State Bank of Patiala Rs.15.00 crores

2. It is further averred that out of the sum of Rs. 48.56 crores sanctioned by the Applicant Bank, a
sum of Rs. 45.00 crores was sanctioned in the form of Cash Credit Limit and the remaining Rs. 3.56

crores by way of term loan. In relation to State Bank of Patiala, it is averred that the entire amount of Rs.
15.00 crores was granted by way of Cash Credit(Hypothecation). Subsequently, from time to time, it is
averred that both SBI as well as State Bank of Patiala, enhanced or modified the financial facilities

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