The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Arun Baroka (Technical Member) and Mr. Barun Mitra (Technical Member) has held that the Adjudicating Authority cannot suo moto amend the date of default mentioned in the insolvency application unless an amendment application is filed; otherwise, it would tantamount to exceeding its jurisdiction, which is not permissible in law.
Brief Facts:
A petition under section 9 of the Insolvency and Bankruptcy Code, 2016 (Code) was filed by Royal Construction-Operational Creditor seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Gannon Dunkerley & Company Ltd.-Corporate Debtor for an alleged…
