The State Bank of India (SBI) has submitted an application against Monnet Ispat alleging that the company has defaulted on a loan of Rs 1,500 crore, with total claims standing at Rs 2,200 crore. While making its argument before the National Company Law Tribunal on Thursday, an SBI lawyer kept requesting the judge to refer to different pages of the application document to bolster his argument. At one point, when he requested the judge to refer to page number 1,318 of the application, the judge told the lawyer, “Looks like you have prepared an application document in proportion to the defaulted loan amount.” The courtroom burst into laughter.
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