Khare And Tarkunde Infrastructure ... vs Il&Fs Transportation Networks Limited

NATIONAL COMPANY LAW APPELLATE TRIBUNAL PRINCIPAL BENCH, NEW DELHI Comp. App. (AT) (Ins) No. 147 of 2026 IN THE MATTER OF: Khare and Tarkunde Infrastructure Limited ...Appellant(s)

Versus

IL&FS Transportation Networks Ltd. ...Respondent(s)

Present: For Appellant : Mr. Abhishek Anand, Advocate

For Respondents : Ms. Pooja Batra, Mr. Sachin Chandrana, Mr. Kartik Nagarkatti, Ms. Khushi Jain, Mr. Shevaaz Khan, Advocates

ORDER

(Hybrid Mode)

05.02.2026 Heard Ld. Counsel for Appellant and Counsel for Respondent.

This Appeal has been filed against the order dated 08/12/2025 by which

the Adjudicating Authority had allowed the I.A. No 3931/MB/2025 filed by the

operational creditor to grant leave to amend the date of default as prayed in the

Application. In Para 1 of the Application following was prayed.

"MOST RESPECTFULLY SUBMITS:

1. The present Application is being filed by the Applicant above named, seeking leave of this Hon'ble Tribunal to carry out amendment in the captioned Company Petition, being Company Petition No. 494/2022 more particularly to amend Part -- 1V (Particulars of Operational Debt of Form - 5, i.e., Application filed u/s. 9 ("Petition") of the Insolvency and Bankruptcy Code 2016, ("the Code™) by the Applicant for initiation of Corporate Insolvency Resolution Process (CIRP") against the Respondent/Corporate Debtor, in terms of the Schedule of amendment. Hereto annexed and marked as Exhibit "A"

is a Schedule of amendment."

Adjudicating Authority has allowed the Application aggrieved by which

order this Appeal has been filed.

It is submitted by Shri Abhishek Anand that the date of default which now

remains after the amendment is 27/09/2018 on which date no demand was

made and demand was made only on 09/03/2021 and 04/01/2022. Hence, the

Application filed by operational creditor was not maintainable, on the basis of

date of default 27/09/2018.

By the Impugned order, Adjudicating Authority has only permitted to

delete two other dates of default which were 09/03/2021 and 04/01/2022 from

the Application on the prayer of the operational creditor itself. It shall be open

for both the parties including the Appellant to make all submission with respect

to the date of default 27/09/2018 which now remains in the application and we

make it clear that none of the observations made in the order shall come into

way of the Parties in raising their submissions with respect to date of default,

27/09/2018.

With the above observations, we dismiss the Appeal.

Appeal Dismissed.

[Justice Ashok Bhushan] Chairperson

[Barun Mitra] Member (Technical) Prerana/ravi

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