At the stage of the amendment, the Court should not go into correctness or falsity of the case in the amendment – Rolta Pvt. Ltd. Vs. Streamcast Education Services Pvt. Ltd. – NCLT Mumbai Bench
Hon’ble NCLT Mumbai Bench allows amendments in Section 7 of IBC holding that the admissibility of the Petition under the provisions of the Insolvency and Bankruptcy Code, 2016 shall be determined at the final stage of hearing. Similarly, the point as to whether the Petition is barred under Section 10A of the Insolvency and Bankruptcy Code, 2016 would be decided at the time of admission on the basis of material placed on record. That being so, at this stage, the Applicant cannot be precluded from pleading certain new facts. However, the veracity of such newly pleaded fact will be adjudged at the appropriate stage. Accordingly, we are of the view that the proposed amendment will not cause any prejudice to the Respondent.
