Shree Laxmi Steel vs RCC Infra Ventures Ltd.

“Part-IV : Particulars of Operational Debt

2.

AMOUNT CLAIMED TO Amount Claimed to BE IN DEFAULT AND THE be in Default DATE ON WHICH THE DEFAULT OCCURRED Rs. 2,39,89,076/-(ATTACH THE WORKINGS (Rupees two crore thirtyFOR COMPUTATION OF AMOUNT nine lakh eighty nine AND DATES OF DEFAULT IN thousand and seventy six TABULAR FORM) only). Date on which the Default Occurred : 14.09.2020 As stipulated in the invoices annexed hereto and marked as Annexure “C Colly”/ Pg 43-44

“ 13. Other than the date of default mentioned as 14.09.2020, no Amendment Application has been filed, nor has any leave of this Adjudicating Authority been obtained to modify or rely upon any other specific date of default. Furthermore, as held by the Hon'ble NCLAT, this Adjudicating Authority does not have the power to alter or substitute the date of default on its own.

14.

The Respondent, in its Written Submissions, has objected that the date of default i.e., 14.09.2020, falls within the ambit of the Section 10A period, during which no application under Section 9 could have been filed. We find merit in the said objection and are constrained to agree with the Respondent that the alleged date of default falls squarely within the period covered under Section 10A.

17.

In view of the fact that the date of default relied upon by the Applicant falls within the ambit of Section 10A, and further that the Applicant has failed to establish compliance with its contractual obligations, the Application i.e. CP (IB) No.27/CHD/HRY/2023 stands dismissed.”

“11.

From perusal of the Part IV of the Application the explicit date of Default relied by the Applicant at Page 4 of the Application is 14.09.2020. To rely on this date of default, the Applicant has contended that on 14.09.2020 the Applicant sent an email and forwarded a balance confirmation to the Applicant, thereby clearly acknowledging its liability.

12.

Other than this the Applicant in Part IV has also indicated that date of default is stipulated in invoices, however when we see the invoices we see no date when debt is payable. Therefore we have no option but to rely on the date of 14.09.2020 as "Date of Default". Further, Hon'ble NCLAT in Royal Construction Vs Gannon Dunkerley & Company Limited, Company Appeal (AT) (Insolvency) No. 393 of 2025 dated 01.04.2025 has observed the following:-

"14.

The contention of the Appellant that the Adjudicating Authority should have modified the date of default after examining the records is an absurd proposition. If the date of default required any change or modification, the onus was on the Appellant to have sought leave of the Adjudicating Authority to file an amendment application. To expect the Adjudicating Authority to have amended the date of default without any amendment application or specific pleading made for such a modification would tantamount to the Adjudicating Authority exceeding its jurisdiction which cannot be countenanced."