# In the matter of Nirmal Liifestyle Limited

> NCLT judgment dated 2023-12-19. Citation: TCN-2023-NCLT-00159. The case involves an application (I.A. 1696 of 2023) filed by SREI Equipment Finance Limited,…

- **Court:** NCLT
- **Order date:** 19 Dec 2023
- **Citation:** TCN-2023-NCLT-00159
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/nirmal-liifestyle-limited-29595fef

## Summary

### Background

The case involves an application (I.A. 1696 of 2023) filed by SREI Equipment Finance Limited, the Applicant, seeking directions against Nirmal Lifestyle Limited, the Respondent, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, and Rule 11 of NCLT Rules, 2016. The Applicant sought permission to amend the Company Petition (C.P. No. 809 of 2021) to rectify certain typographical errors and update the statement of accounts. The Company Petition No. 809 of 2021 was originally filed to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Nirmal Lifestyle Limited, under Section 7 of the Insolvency and Bankruptcy Code, 2016.

## Facts

SREI Equipment Finance Limited (Applicant) filed an application (I.A. 1696 of 2023) to amend its Company Petition (C.P. No. 809 of 2021) against Nirmal Lifestyle Limited (Corporate Debtor). The original petition sought to initiate Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Applicant aimed to rectify typographical errors in Form I of the Company Petition, specifically regarding dates of default. Initially, the dates 05.02.2020 and 05.03.2020 were inadvertently omitted from the table in Part IV of Form I. The correct date of default, 05.02.2020, was already mentioned in Part IV of the Petition. The Applicant also sought to replace the Statement of Accounts (Exhibit K) with an updated version (Annexure

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## Issues and analysis

### Issue 1: Whether the Applicant should be permitted to amend the Company Petition to rectify typographical …

**Ratio:** The Hon'ble National Company Law Appellate Tribunal (NCLAT) has held that the

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**Reasoning:** The Tribunal observed that the date of default (05.02.2020) was already mentioned in Part

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**Interpretation:** The legal principle is that amendments to pleadings and filing of additional

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**Application:** The Tribunal applied the principle by allowing the Applicant to correct the

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## Parties

- **Judges:** Reeta K…; Madhu S…
- **Appellants:** SREI Equipment…
- **Respondents:** Nirmal Lifestyle…

## Timeline

- **2021-01-01 — C.P. No. (IB) 809 OF…**: Company Petition No. 809 of 2021 was filed to initiate Corporate Insolvency Resolution…
- **2023-01-01 — I.A. 1696 O…**: SREI Equipment Finance Limited filed I.A. 1696 of 2023 seeking permission to amend 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)

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