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Judgment
O R D E R
31.01.2024: Heard Learned Counsel for the parties.
This Appeal has been filed against the Order dated 09.01.2024 passed by the Adjudicating Authority in I.A. No. 4350 of 2023. The Application has been filed by the Financial Creditor praying for amendment in the Part-IV of the Application. The Adjudicating Authority by Impugned Order has allowed the Application and has permitted the Appellant to change the date of default as 31st March, 2014 and the amount of Rs. 1,87,68,23,362/-.
Learned Counsel-Mr.Gaurav Mitra appearing for the Appellant submits that date of default which was initially mentioned could not be allowed to be changed since the question of limitation shall also arise. It is further submitted that the Adjudicating Authority has made the observation in paragraph 13 touching the merits on the issues which was uncalled for since the Adjudicating Authority was only deciding the Amendment Application.
Learned Counsel for the Respondent replying the submissions of the Appellant contends that date of NPA was mentioned in the Application and there was decree by DRT dated 19th September, 2019 on that basis, the date of default was picked.
We have considered the submissions of Learned Counsel for the parties and perused the record.
It is well settled now that amendments in Part-IV is permissible and Financial Creditor can amend the application which amendment application is to be considered on the facts of the case and change of date of default has to be examined with regard to the facts of each of the case. Here the date of default which is sought to be now amended in the Application was date of NPA which is a matter of public record and date of NPA have been permitted to be added. Apprehension of the Appellant are misconceived that by the date of NPA, all other arguments which are open to the Corporate Debtor shall be lost. We make it clear that amendments in no manner shall preclude the Corporate Debtor to raise all the issues on merits including the limitation, if any. We further observe that observations in paragraph 13 of the Order cannot be treated to be expression of opinion on merits of the issues involved in the Application and the said observations were only for the purpose of deciding the amendment application and treated to be confined to the decision of the amendment application.
We thus are of the view that no grounds have been made out to interfere with the Impugned Order allowing the amendment application.
Learned Counsel for the Respondent submits that amended petition is yet to be filed. Let amended petition be filed within two weeks from today. Corporate Debtor shall also have two weeks’ time to file Reply to the amended petition.
With the aforesaid direction(s), we dispose of the Appeal.