# In the matter of Vasavai Power Services Pvt. Ltd. vs. Canara Bank Ltd.

> NCLAT judgment dated 2025-04-30. Citation: TCN-2025-NCLAT-00069. The case involves a Company Petition (CP (IB) / 3 / 7 / AMR / 2024) before the NCLT,…

- **Court:** NCLAT
- **Order date:** 30 Apr 2025
- **Citation:** TCN-2025-NCLAT-00069
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/vasavai-power-services-pvt-ltd-vs-canara-bank-ltd-17fdb334

## Summary

### Background

The case involves a Company Petition (CP (IB) / 3 / 7 / AMR / 2024) before the NCLT, Amaravati Bench, initiated by a Financial Creditor under Section 7 of the I&B Code, 2016. The Respondent's pleadings indicated a date of default as 17.08.2023. The Appellant filed IA (IBC) / 418 / 2024, contesting the determination of the date of default. The Respondent objected to this IA by filing a counter affidavit, and a rejoinder was also filed. Subsequently, the Respondent sought an amendment to rectify the date of default. The Tribunal passed an Impugned Order on IA (IBC) / 98 / 2025, which the Appellant challenged.

## Facts

Vasavai Power Services Pvt. Ltd. (Appellant) is facing proceedings initiated by Canara Bank Ltd. (Respondent) under Section 7 of the I&B Code, 2016. The proceedings were initiated before the NCLT, Amaravati Bench, as Company Petition CP (IB) / 3 / 7 / AMR / 2024. The Respondent's pleadings indicated the date of default as 17.08.2023. The Appellant filed IA (IBC) / 418 / 2024, contesting the modalities adopted for determining the date of default. The Respondent filed a counter affidavit objecting to the IA and subsequently sought an amendment to rectify the date of default. The Tribunal passed an Impugned Order on IA (IBC) / 98 / 2025, permitting the amendment, which the Appellant challenged in the present appeal. The key factual dispute centers around the correct

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## Issues and analysis

### Issue 1: Whether the Tribunal erred in permitting the …

**Ratio:** The settled principles of law governing amendments dictate that an amendment cannot be

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**Reasoning:** The Tribunal's decision to allow the amendment was flawed because it permitted the

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**Interpretation:** The interpretation of amendment laws suggests that amendments should not be

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**Application:** In this case, allowing the amendment regarding the date of default would have

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## Parties

- **Judges:** Sharad Kumar…; Jatindranat…
- **Appellants:** Vasavai Power…
- **Respondents:** Canara Ban…

## Timeline

- **2024-01-01 — Company Petiti…**: Company Petition CP (IB) / 3 / 7 / AMR / 2024…
- **2023-08-17 — Date of D…**: The Respondent's pleadings indicated…

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