NCLT rejects SBI's ₹430.12 crore insolvency plea
In short
The NCLT turned down SBI’s ₹430.12 crore personal insolvency plea under Section 95 of the IBC. It said the filing was late and SBI did not show a valid extension of time.
This means the case will not move ahead for now. The reporting does not say whether SBI will appeal or file again.
What the reporting says
The NCLT dismissed SBI’s ₹430.12 crore personal insolvency plea under Section 95 of the IBC after finding it was filed beyond the limitation period. The reporting says SBI failed to establish any valid extension of that deadline. The immediate consequence is that the insolvency case does not proceed at this stage. What remains unknown is whether SBI will pursue any further legal remedy.
Why it matters
The NCLT dismissed SBI’s personal insolvency petition after finding it was filed beyond the prescribed limitation period and that no valid extension was shown. The amount mentioned in the reporting is ₹430.12 crore. The ruling blocks the matter from proceeding under Section 95 of the IBC at this stage. The report does not say whether SBI will challenge the dismissal.