# In the matter of Premier Distilleries Pvt. Ltd. IA-729(CHE)-2021 in IBA-300-2020

> NCLT judgment dated 2021-11-08. Citation: TCN-2021-NCLT-00590. The Applicant filed a petition IBA/300/2020 stating that the date of default is 28.02.2017.…

- **Court:** NCLT
- **Order date:** 8 Nov 2021
- **Citation:** TCN-2021-NCLT-00590
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/premier-distilleries-pvt-ltd-ia-729che-2021-in-iba-300-2020-881cce33

## Summary

### Background

The Applicant filed a petition IBA/300/2020 stating that the date of default is 28.02.2017. However, in Form-I in Part IV, Serial No.2 at Page 3 of the petition, the date of SARFAESI notice was mentioned as the date of default due to inadvertence. The Counsel for the Applicant further states that unless the date of default as 28.02.2017 is not mentioned in Form-I, the Applicant will be put to irreparable loss and hardship. Hence, the Petitioner has sought permission to rectify the date of default as 28.02.2017 instead of 09.06.2017 in the relevant form for which the Respondent has filed the counter and the Applicant has sought time for filing rejoinder.

## Facts

The State Bank of India filed a petition (IBA/300/2020) claiming the date of default as 28.02.2017. However, the Form-I in Part IV, Serial No.2 at Page 3 of the petition, mentioned the date of the SARFAESI notice as the date of default due to an error. The applicant sought to rectify the date of default to 28.02.2017 instead of 09.06.2017. The respondent, Premier Distilleries Pvt Ltd, filed a counter. The applicant sought time to file a rejoinder. The court found that the application was not maintainable because the date of default was not correctly mentioned in the relevant form.

## Issues and analysis

### Issue 1: Whether the application under Section 7 of IBC, 2016 is maintainable when the date of default is …

**Ratio:** The particulars in an application under Section 7 of IBC, 2016, must be furnished in the

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**Reasoning:** The court reasoned that the correct date of default is crucial for the maintainability of

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**Interpretation:** Section 7 of IBC, 2016 requires strict adherence to the prescribed format and

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**Application:** In this case, the incorrect date of default in Form-I made the application not

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## Parties

- **Judges:** (Retd.) S.…; B. Anil…
- **Appellants:** State Bank of…
- **Respondents:** Premier Distilleri…

## Timeline

- **2017-02-28 — Date of Default…**: The Applicant claimed the date…
- **2017-06-09 — Date of SARFAESI Notice…**: The date of the SARFAESI notice was incorrectly mentioned as the date of default in…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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