# In the matter of Taurus Agile Technology Corporation (P) Ltd. (IB)-528(PB)-2019

> NCLT judgment dated 2019-05-01. Citation: TCN-2019-NCLT-03597. The case involves an application before the National Company Law Tribunal (NCLT), New Delhi,…

- **Court:** NCLT
- **Order date:** 1 May 2019
- **Citation:** TCN-2019-NCLT-03597
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/taurus-agile-technology-corporation-p-ltd-ib-528pb-2019-998e8303

## Summary

### Background

The case involves an application before the National Company Law Tribunal (NCLT), New Delhi, Principal Bench. The matter pertains to Edelweiss Asset Reconstruction Co. Ltd. as the applicant/petitioner and Taurus Agile Technology Corporation (P) Ltd. as the respondent. The order is related to Section 7 of the Insolvency & Bankruptcy Code, 2016.

## Facts

Edelweiss Asset Reconstruction Co. Ltd. filed an application before the NCLT against Taurus Agile Technology Corporation (P) Ltd. The application concerned a correction to the name of the Resolution Professional (RP). The NCLT allowed the application, ordering that the RP's name be corrected from 'Chandra' to 'Kundra', resulting in the full name 'Subhash Chander Kundra'. The order was delivered on May 1, 2019.

## Issues and analysis

### Issue 1: Whether the application for correction of the …

**Ratio:** The legal principle applied is the tribunal's power to rectify errors and ensure accuracy

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**Reasoning:** The court reasoned that correcting the name of the RP is necessary for maintaining

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**Interpretation:** The interpretation involves the tribunal's inherent power to correct clerical

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**Application:** The ratio and reasoning were applied to the specific fact that the RP's name

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## Parties

- **Judges:** M. M. K…; S. K. MOH…
- **Appellants:** Edelweiss Asset…
- **Respondents:** Taurus Agile…

## Timeline

- **2019-05-01 — Order Del…**: The order was delivered, allowing the application for correction of the Resolution…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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