NCLAT upholds decision of NCLT wherein a lead bank was allowed to intervene in application under Section 95 of IBC – Indian Bank Vs. State Bank of India and Ors. – NCLAT New Delhi
In this case, Section 95 application was filed by Indian Bank. Hon’ble NCLT allowed Intervention Petition filed by SBI. Hon’ble NCLAT held that State Bank of India in the lead bank and Corporate Debtor’s resolution plan have been approved, which need to be implemented.