The case involves an application (I.A./1221/ND/2022) filed by Kotak Mahindra Bank Limited, the Financial Creditor, in the main Company Petition (C.P.(IB)/421/ND/2021) under Section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016. The Financial Creditor seeks to amend Form 1 dated 02.08.2021 by taking on record the amended Form 1 dated 28.02.2022 to adjudicate the CIRP Petition filed under Section 7 of the IBC against the Corporate Debtor, GK Dairy And Milk Products Pvt Ltd. The applicant had inadvertently mentioned the Date of Default in the FORM 1 to be the date of Non Performing Asset (NPA) of the Account of the Corporate Debtor i.e. 30.06.2020 whereas the default had occurred on 29.02.2020.
Kotak Mahindra Bank Limited, the Financial Creditor, filed Company Petition C.P.(IB)/421/ND/2021 under Section 7 of the Insolvency and Bankruptcy Code, 2016, against GK Dairy And Milk Products Pvt Ltd, the Corporate Debtor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed a default of Rs.24,50,10,577.77/- as on 29.04.2021. The date of default mentioned in Part-IV of Form I of the main petition was 30.06.2020, the date when the account was declared NPA. The Financial Creditor filed an interlocutory application (I.A./1221/ND/2022) to amend the date of default in Form 1 from 30.06.2020 to 29.02.2020, claiming the initial date was inadvertently mentioned. The Corporate Debtor opposed the amendment, arguing that the
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The case involves an application (I.A./1221/ND/2022) filed by Kotak Mahindra Bank Limited, the Financial Creditor, in the main Company Petition (C.P.(IB)/421/ND/2021) under Section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016. The Financial Creditor seeks to amend Form 1 dated 02.08.2021 by taking on record the amended Form 1 dated 28.02.2022 to adjudicate the CIRP Petition filed under Section 7 of the IBC against the Corporate Debtor, GK Dairy And Milk Products Pvt Ltd. The applicant had inadvertently mentioned the Date of Default in the FORM 1 to be the date of Non Performing Asset (NPA) of the Account of the Corporate Debtor i.e. 30.06.2020 whereas the default had occurred on 29.02.2020.
Kotak Mahindra Bank Limited, the Financial Creditor, filed Company Petition C.P.(IB)/421/ND/2021 under Section 7 of the Insolvency and Bankruptcy Code, 2016, against GK Dairy And Milk Products Pvt Ltd, the Corporate Debtor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed a default of Rs.24,50,10,577.77/- as on 29.04.2021. The date of default mentioned in Part-IV of Form I of the main petition was 30.06.2020, the date when the account was declared NPA. The Financial Creditor filed an interlocutory application (I.A./1221/ND/2022) to amend the date of default in Form 1 from 30.06.2020 to 29.02.2020, claiming the initial date was inadvertently mentioned. The Corporate Debtor opposed the amendment, arguing that the
…Original Form…
Amended Form 1 was…