# In the matter of Transstadia Holding Private Limited

> NCLT judgment dated 2024-02-19. Citation: TCN-2024-NCLT-02537. This is an application filed by Bank of Baroda before the National Company Law Tribunal (NCLT),…

- **Court:** NCLT
- **Order date:** 19 Feb 2024
- **Citation:** TCN-2024-NCLT-02537
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/transstadia-holding-private-limited-d9423403

## Summary

### Background

This is an application filed by Bank of Baroda before the National Company Law Tribunal (NCLT), Ahmedabad, under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 of the NCLT Rules, 2016. The application seeks to amend a Section 7 petition already filed by the Bank of Baroda against Transstadia Holdings Pvt Ltd, aiming to rectify typographical and clerical errors in the original petition. The respondent, Transstadia Holdings Pvt Ltd, opposed the amendment, arguing that the applicant had several opportunities to amend the petition earlier and that the amendments sought are not valid.

## Facts

1. Bank of Baroda filed a Section 7 petition against Transstadia Holdings Pvt Ltd, which is pending before the NCLT Ahmedabad.
2. Bank of Baroda filed an application (I.A. No. 262 of 2024) seeking to amend the Section 7 petition to rectify typographical and clerical errors.
3. The application was filed on 02.02.2024 under Section 60(5) of the IBC, 2016, read with Rule 11 of the NCLT Rules, 2016.
4. The specific amendments sought include corrections to the date of incorporation of the Financial Creditor, the total amount of debt disbursed, and details in the Certificate of Notional Interest in NPA Account.
5. The Respondent, Transstadia Holdings Pvt Ltd, opposed the amendment, stating that the Applicant had several opportunities to amend the Petition since 31.08.2023 but

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## Issues and analysis

### Issue 1: Whether the amendments sought by the Applicant, Bank of Baroda, to its Section 7 petition are …

**Ratio:** The ratio is that amendments to pleadings are generally permissible, especially when they

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**Reasoning:** The court reasoned that the amendments sought by the Bank of Baroda were solely to

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**Interpretation:** The interpretation is that Section 60(5) of the IBC, read with Rule 11 of the

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** SHAMMI…; SAMEER…
- **Appellants:** Bank of B…
- **Respondents:** Transstadia…
- **Advocates:** A. K. M…; Nisha…; +1 more

## Timeline

- **2024-02-02 — Application…**: Bank of Baroda filed the present application (I.A. No. 262 of 2024) before the NCLT,…
- **2023-08-31 — Respondent'…**: The Respondent claims that the Applicant had several opportunities to amend the Petition…

## 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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