RELIGARE FINVEST LIMITED vs LAKSHMI VILAS BANK LIMITED

$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 13.02.2025 CS(COMM) 940/2018 RELIGARE FINVEST LIMITED .....Plaintiff Through: Mr. Sandeep Das, Ms. Kanak Malik and Mr. Tejasvi Mahajan, Advocates Mr. Madhav Khosla and Ms. Moha Paranjpe, Advocates in IA 12197/2019 versus LAKSHMI VILAS BANK LIMITED .....Defendant Through: Mr. Malak Bhatt, Ms. Sushmita Gandhi, Ms. Vatsala Pant and Ms. Samridhi, Advocates CORAM: HON'BLE MS. JUSTICE SWARANA KANTA SHARMA JUDGMENT SWARANA KANTA SHARMA, J. I.A. 12197/2019 (Impleadment) 1. The present application under Order I Rule 10 read with Section 151 of the Code of Civil Procedure, 1908 (hereafter „CPC‟) has been filed on behalf of the applicant/ State Bank of India, seeking impleadment as proposed defendant in the present suit being CS (COMM) 940/2018. 2. Briefly stated, the facts of the present case are that the Plaintiff had filed the present suit against the Defendant‟s action of liquidating Fixed Deposits (FDs) amounting to ₹791,44,77,051 along with interest, which were maintained by the Plaintiff with the Defendant, i.e. Lakshmi Vilas Bank Limited. The Applicants, comprising various banks and financial institutions, had sanct