NCLAT Grants SBI One Week for Counter Affidavit

Authority: National Company Law Appellate Tribunal, Chennai (Appellate Jurisdiction)

Order Date: 16 July 2026

Case Overview

The National Company Law Appellate Tribunal at Chennai heard Company Appeal (AT) (CH) (Ins) No. 129/2025 filed by State Bank of India, Stressed Asset Management Branch (SAMB), Chennai as the appellant against respondent Mr. N.K. Pothiraj. The respondent's counsel had appeared approximately one year prior but had not filed a counter affidavit for strategic reasons known to her. The tribunal noted this delay but decided to balance equities by granting a final opportunity.

Final Outcome

The NCLAT granted the respondent one week as a final opportunity to file the counter affidavit. The order explicitly states that failure to file within this timeframe will result in the closure of the respondent's opportunity to file the counter. The case has been listed for next hearing on 28 August 2026. The bench comprised Justice Sharad Kumar Sharma (Member Judicial) and Jatindranath Swain (Member Technical).

Topics: Banking Litigation, NCLAT Procedure, Stressed Assets