The case involves an application (MA No.224 of 2018) submitted by the Corporate Debtor, Videocon Industries Limited, seeking an order to strike off amendments made by the Financial Creditor, State Bank of India, to the original petition (CP 02 of 2018). The Corporate Debtor argues that these amendments, which pertain to the particulars of financial debt, are beyond the scope of the Insolvency Code and are illegal. The Financial Creditor altered dates of default and other details in the petition. The applicant contends that the amendments change the context of the main petition and the amended petition.
Videocon Industries Limited, the Corporate Debtor, filed an application (MA No.224 of 2018) against State Bank of India, the Financial Creditor, seeking to strike off amendments made by the Financial Creditor to the original petition (CP 02 of 2018). The amendments pertained to the particulars of financial debt, including the dates of default and amounts under default. The Corporate Debtor argued that these amendments were beyond the scope of the Insolvency Code and were carried out without permission from the NCLT. The Financial Creditor had altered the dates of default in the petition, changing the first date of default from May 1, 2016, to May 31, 2016, and later to dates in 2017. The Corporate Debtor contended that the amendments changed the entire context of the
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The case involves an application (MA No.224 of 2018) submitted by the Corporate Debtor, Videocon Industries Limited, seeking an order to strike off amendments made by the Financial Creditor, State Bank of India, to the original petition (CP 02 of 2018). The Corporate Debtor argues that these amendments, which pertain to the particulars of financial debt, are beyond the scope of the Insolvency Code and are illegal. The Financial Creditor altered dates of default and other details in the petition. The applicant contends that the amendments change the context of the main petition and the amended petition.
Videocon Industries Limited, the Corporate Debtor, filed an application (MA No.224 of 2018) against State Bank of India, the Financial Creditor, seeking to strike off amendments made by the Financial Creditor to the original petition (CP 02 of 2018). The amendments pertained to the particulars of financial debt, including the dates of default and amounts under default. The Corporate Debtor argued that these amendments were beyond the scope of the Insolvency Code and were carried out without permission from the NCLT. The Financial Creditor had altered the dates of default in the petition, changing the first date of default from May 1, 2016, to May 31, 2016, and later to dates in 2017. The Corporate Debtor contended that the amendments changed the entire context of the
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Representative of SBI…