Tribunals and CommissionsDivision Bench(2023) 03 NCLAT CK 0025

M/s. CMI Ltd vs M/s. Kotak Mahindra Bank Ltd

National Company Law Appellate Tribunal · Decided on 16 March 2023

HON’BLE JUDGES
Ashok Bhushan, Chairperson · Barun Mitra, Member (T)
RESULT
Dismissed
CASE NUMBER
Company Appeal (AT) (Insolvency) No. 315 Of 2023

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Judgment

5 paragraphs · 188 words
1.

Heard Learned Counsel for the Appellant and Learned Counsel appearing for Respondent.

2.

This Appeal has been filed against the Order dated 28.02.2023 passed in I.A. No. 3768 of 2022 by which the Adjudicating Authority has allowed the Application (I.A. No. 3768 of 2022) filed by the Appellant-Financial Creditor to amend Form-1. By amendment in Form 1, the date of default was sought to be amended. Although, the Adjudicating Authority has allowed the Application but in paragraph 10 of the Order, has made following observations:

“10………..The issue of the correct date of default shall be adjudicated by this Adjudicating Authority after hearing the arguments of both the parties in the main Company Petition i.e., (C.P.(IB) 481/PB/2021).”

3.

The Adjudicating Authority has thus kept open the question of date of default to be adjudicated by the Adjudicating Authority after hearing the arguments of parties. We thus are of the view that no error can be found in allowing the amendment application especially when the question of date of default has been kept open to be considered at the time of arguments.

With these observations, the Appeal is dismissed.