The amendment of pleadings (including date of default) in an application filed under Section 7 of IBC can be done at any stage of the matter – Piramal Enterprises Ltd. v. Kay Jay Leasing – NCLT New Delhi Bench Court-III

NCLT New Delhi Bench Court-III holds:
(i) Corporate Debtor has been in default of its payment obligations under the Loan Agreement and the said defaults are continuing in nature.
(ii) It is the settled law that, the amendment of pleadings in an Application filed under Section-7 IBC, can be done at any stage of the matter as laid down in various judgements which have been cited by the Applicant.
(iii) Directs that the date of default be treated as 05.04.2021 as prayed for by the Applicant.

The amendment of pleadings (including date of default) in an application filed under Section 7 of IBC can be done at any stage of the matter – Piramal Enterprises Ltd. v. Kay Jay Leasing – NCLT New Delhi Bench Court-III Read Post »