Whether NCLT is empowered to allow the parties to amend the pleadings before the final orders in CIRP proceedings are passed? | Whether the Date of Default can be changed after filing the petition under Section 7 of the Insolvency and Bankruptcy Code (IBC)? – Puneet P. Bhatia Vs. ASREC (India) Ltd. and Anr. – NCLAT New Delhi

The Hon’ble NCLAT on the question, whether the NCLT can allow amendments to the date of default in applications filed under Section 7 of the Insolvency and Bankruptcy Code (IBC)?, held that as per the provisions of the Code, the NCLT is empowered to allow the parties to amend the pleadings before the final orders in CIRP proceedings are passed. This would however be subject to the procedure laid down in the code, as confirmed by Dena Bank v. C. Shivakumar Reddy and Anr. (2021) ibclaw.in 69 SC.

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If any Public depositor applies showing due of the debt claiming itself as operational creditor and the Resolution Professional or the Tribunal do not accept the claim on the ground that they are not financial creditor, we allow the appellant to raise the question before the Tribunal and if any adverse decision is given by the Tribunal, it will be open to the appellant to raise the issue before NCLAT- Hind Motors India Ltd. Vs. Adjudicating Authority NCLT, Chandigarh – NCLAT New Delhi

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