The Central Bank of India Ltd., as the Applicant/Financial Creditor, filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking to amend the Company Petition. The application aimed to bring on record additional documents and correct statements, particularly regarding the date of default. The original petition mentioned the date of default as 29.11.2020, but the applicant sought to substitute it with 01.03.2023, based on a supplemental agreement dated 10.12.2020. The respondent, Superfine Aluminium Technologies Private Limited, opposed the amendment, arguing it would prejudice their defense and constitute a fresh petition filed after the original petition.
Central Bank of India Ltd. filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking to amend its original Company Petition against Superfine Aluminium Technologies Private Limited. The original petition stated the date of default as 29.11.2020. The applicant sought to amend this to 01.03.2023, citing a supplemental agreement dated 10.12.2020 that revised the repayment schedule. The respondent opposed the amendment, arguing that the original petition was filed on 01.02.2020, and the proposed new date of default (01.03.2023) would be subsequent to the filing date, thus changing the fundamental basis of the case. The respondent also pointed out discrepancies in the amount of financial debt and default claimed in the original petition
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The date of default as…
A supplemental agreement was executed, which…
The Central Bank of India Ltd., as the Applicant/Financial Creditor, filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking to amend the Company Petition. The application aimed to bring on record additional documents and correct statements, particularly regarding the date of default. The original petition mentioned the date of default as 29.11.2020, but the applicant sought to substitute it with 01.03.2023, based on a supplemental agreement dated 10.12.2020. The respondent, Superfine Aluminium Technologies Private Limited, opposed the amendment, arguing it would prejudice their defense and constitute a fresh petition filed after the original petition.
Central Bank of India Ltd. filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking to amend its original Company Petition against Superfine Aluminium Technologies Private Limited. The original petition stated the date of default as 29.11.2020. The applicant sought to amend this to 01.03.2023, citing a supplemental agreement dated 10.12.2020 that revised the repayment schedule. The respondent opposed the amendment, arguing that the original petition was filed on 01.02.2020, and the proposed new date of default (01.03.2023) would be subsequent to the filing date, thus changing the fundamental basis of the case. The respondent also pointed out discrepancies in the amount of financial debt and default claimed in the original petition
…The date of default as…
A supplemental agreement was executed, which…