The Applicant filed a petition IBA/300/2020 stating the date of default as 2017-02-28. However, in Form-I, 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 states that unless the date of default as 2017-02-28 is mentioned in Form-I, the Applicant will face irreparable loss and hardship. Hence, the Petitioner sought permission to rectify the date of default as 2017-02-28 instead of 2017-06-09 in the relevant form. The Respondent filed a counter, and the Applicant sought time for filing a rejoinder.
The Applicant, State Bank of India, filed a petition IBA/300/2020, stating that the date of default was 2017-02-28. However, the application form (Form-I) incorrectly mentioned the date of the SARFAESI notice (2017-06-09) as the date of default. The Applicant sought permission to rectify this error. The Respondent, Premier Distilleries Pvt Ltd, filed a counter to the application. The court noted that Section 7 of IBC, 2016 requires particulars to be furnished in the proforma exactly. The incorrect date of default was deemed a critical error affecting the maintainability of the petition.
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The Applicant claims…
The date of the SARFAESI notice was incorrectly…
The Applicant filed a petition IBA/300/2020 stating the date of default as 2017-02-28. However, in Form-I, 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 states that unless the date of default as 2017-02-28 is mentioned in Form-I, the Applicant will face irreparable loss and hardship. Hence, the Petitioner sought permission to rectify the date of default as 2017-02-28 instead of 2017-06-09 in the relevant form. The Respondent filed a counter, and the Applicant sought time for filing a rejoinder.
The Applicant, State Bank of India, filed a petition IBA/300/2020, stating that the date of default was 2017-02-28. However, the application form (Form-I) incorrectly mentioned the date of the SARFAESI notice (2017-06-09) as the date of default. The Applicant sought permission to rectify this error. The Respondent, Premier Distilleries Pvt Ltd, filed a counter to the application. The court noted that Section 7 of IBC, 2016 requires particulars to be furnished in the proforma exactly. The incorrect date of default was deemed a critical error affecting the maintainability of the petition.
The Applicant claims…
The date of the SARFAESI notice was incorrectly…