The Operational Creditor needs to be put to strict proof to establish the date of default – Manishaas Infratecho Solutions Pvt. Ltd. Vs. Bhonu Hulshi Real Estate Pvt. Ltd. – NCLAT New Delhi
Hon’ble NCLAT held that mere insertion of any date in the Section 8 demand notice or in the Section 9 application does not make that date of default valid and binding especially when there is no agreement between the two parties as to what shall constitute an event of default. In the absence of any agreement available on record, the alleged date of default cannot be whimsically and arbitrarily decided by the Operational Creditor. The Operational Creditor needs to be put to strict proof to establish the date of default.