# In the matter of Swaminarayan Diamonds Pvt. Ltd. vs. Canara Bank

> NCLAT judgment dated 2025-06-23. Citation: TCN-2025-NCLAT-00351. The appeal was filed against the order of the National Company Law Tribunal, Mumbai Bench,…

- **Court:** NCLAT
- **Order date:** 23 Jun 2025
- **Citation:** TCN-2025-NCLAT-00351
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/swaminarayan-diamonds-pvt-ltd-vs-canara-bank-28bcbd3e

## Summary

### Background

The appeal was filed against the order of the National Company Law Tribunal, Mumbai Bench, Court-VI dated 28.05.2025, which granted liberty to the applicant to amend Form No.1 to change the date of default and allowed the respondent to file a reply to the amended Form-1.

## Facts

The Appellant filed an appeal against the impugned order of the Adjudicating Authority.

The Adjudicating Authority granted liberty to the applicant to amend Form No.1 to change the date of default.

The Respondent was allowed to file a reply to the amended Form-1 within seven days.

The Appellant argued that the amendment was allowed without providing an opportunity to be heard.

The Respondent contended that the amendment was only to clarify the date of default.

The Corporate Debtor's bank account was declared NPA on 06.07.2024.

The original date of default mentioned in Form No.1 was 05.04.2024.

The amended date of default in Form No.1 is 10.04.2024.

Both dates of default fall within the limitation period.

## Issues and analysis

### Issue 1: Whether there is any bar in law to the amendment of pleadings, in a Petition under Section 7 of the …

**Ratio:** There is no bar in law to the amendment of pleadings in an application under Section 7 of

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**Reasoning:** The court relied on the judgment in Dena Bank v. C. Shivakumar Reddy and Another [ (2021)

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**Interpretation:** The court interpreted Section 7 of the IBC to allow for amendments to pleadings

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**Application:** The court applied this interpretation to the present case, finding that the

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## Parties

- **Judges:** Mohammad Faiz…; Arun Ba…
- **Appellants:** Swaminarayan…
- **Respondents:** Canara…
- **Advocates:** Varun S…; Vera…; +3 more

## Timeline

- **2025-05-28 — Order by NCLT Mumbai…**: The National Company Law Tribunal, Mumbai Bench, Court-VI, passed an order granting…
- **2025-06-23 — Hearing…**: The National Company Law…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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