# In the matter of Premier Distilleries Pvt. Ltd. IBA-300-2020 > NCLT judgment dated 2021-11-08. Citation: TCN-2021-NCLT-00580. The Applicant filed a petition IBA/300/2020 stating the date of default as 2017-02-28. However,… - **Court:** NCLT - **Order date:** 8 Nov 2021 - **Citation:** TCN-2021-NCLT-00580 - **Category:** IBC - **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/premier-distilleries-pvt-ltd-iba-300-2020-9263c833 ## Summary ### Background 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. ## Facts 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. ## Issues and analysis ### Issue 1: Whether the application IBA/300/2020 is maintainable when the date of default mentioned in the … **Ratio:** Under Section 7 of the IBC, 2016, the particulars in the application must be furnished in … **Reasoning:** The court reasoned that the application was not maintainable because the date of default … **Interpretation:** The interpretation of Section 7 of the IBC, 2016 requires strict adherence to … **Application:** In this case, the incorrect date of default in the application form rendered … ## Parties - **Judges:** (Retd.) S.…; B. Anil… - **Appellants:** State Bank of… - **Respondents:** Premier Distilleri… - **Advocates:** Mr.K.Chandrasekara…; Chandramouli… ## Timeline - **2017-02-28 — Date of Default (as…**: The Applicant claims this is… - **2017-06-09 — Date of SARFAESI Notice (incorrectly mentioned…**: The date of the SARFAESI notice was incorrectly mentioned as the date of default in the… ## 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) --- This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/premier-distilleries-pvt-ltd-iba-300-2020-9263c833