The tribunal held that no liability can be fastened on the corporate debtor for default committed during Section 10A period. The adjudicating authority has, therefore, not committed any error in holding the Section 9 application as non-maintainable
The Adjudicating Authority cannot suo moto change the date of default specified in the insolvency application unless an amendment application is filed, according to the National Company Law Appellate Tribunal ( NCLAT ) in New Delhi. Failure to do so would amount to exceeding its jurisdiction, which is illegal.
In order to initiate the Corporate Insolvency Resolution Process (CIRP)…
