# In the matter of Fortis Healthcare Holdings  Pvt. Ltd. (IB-276-ND-2022

> NCLT judgment dated 2022-05-04. Citation: TCN-2022-NCLT-02918. The case involves an application under Section 7 of the Insolvency and Bankruptcy Code (IBC),…

- **Court:** NCLT
- **Order date:** 4 May 2022
- **Citation:** TCN-2022-NCLT-02918
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/fortis-healthcare-holdings-pvt-ltd-ib-276-nd-2022-70da887e

## Summary

### Background

The case involves an application under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The applicant's counsel argued that there were three dates for making the payment of interest, with payments received until August 24, 2017, and the next payment due on August 24, 2018.

## Facts

Axis Trustee Services Ltd. filed an application against Fortis Healthcare Holdings Pvt. Ltd. under Section 7 of the IBC, 2016. The applicant's counsel stated that there were three dates for interest payments, with payments received until August 24, 2017, and the next payment due on August 24, 2018. The application mentioned the date of default as September 16, 2017. The court found a discrepancy between the default date in the application and the payment due date as per the applicant's counsel's submission.

## Issues and analysis

### Issue 1: Whether the application under Section 7 of the IBC, 2016, is maintainable given the discrepancy …

**Ratio:** An application under Section 7 of the IBC, 2016, requires a clear establishment of

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**Reasoning:** The court reasoned that the application stated the date of default as September 16, 2017.

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**Interpretation:** The interpretation of Section 7 of the IBC requires the applicant to prove a

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**Application:** In this case, the discrepancy between the stated default date (September 16,

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## Parties

- **Judges:** SHRI. ABNI RANJAN…; HEMANT KUMAR…
- **Appellants:** Axis Trustee…
- **Respondents:** Fortis Healthcare…

## Timeline

- **2017-08-24 — Payment Re…**: Applicant received…
- **2017-09-16 — Date of Default (as per…**: Date of default mentioned in part…

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