Sgz & Sga Sugars (Jv) Limited vs Sangli District Central Co-Operative ...
- CitationCompany Appeal (AT) (Insolvency) No. 704 of 2023
Ratio decidendi
The rule this decision rests on
The Adjudicating Authority's grant of leave to amend the date of default in Form 1 does not foreclose the corporate debtor from contesting, in its reply, the date of default on which the application is founded; the amendment does not preclude the appellant from raising that plea. The appeal against the amendment order is disposed of on that footing, without the Appellate Tribunal entertaining it further, because no useful purpose would be served by doing so.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
IN THE MATTER OF: SGZ & SGA Sugars (JV) Ltd. ...Appellant
Versus
Sangli District Central Co-operative Bank Ltd. ...Respondent
Present: For Appellant : Mr. Abhijit Sinha, Mr. ANV Patel, Mr. Siddhant Buxy, Mr. Harshad Vyas and Mr. Aditya Shukla, Advocates
For Respondent : None
ORDER
26.05.2023 Heard Learned Counsel for the Appellant.
This Appeal has been filed against the impugned order dated
17.04.2023 by which the Adjudicating Authority has allowed the Financial
Creditor to amend the date of default as mentioned in Form -1. Counsel for
the Appellant submits that earlier date was mentioned as 17.01.2021 which
has now been amended as 19.04.2021. It is submitted that as per date of
default, the application was barred by Section 10A.
We have heard the Counsel for the Appellant and perused the record.
The Appellant has been granted time to file a reply. Appellant in Reply
is entitled to raise plea regarding date of default on basis of which application
is filed and the amendment shall not preclude the appellant in raising the
plea in the reply.
We thus are of the view that no useful purpose shall be served in
entertaining the appeal. With the aforesaid observations and clarifications, we
dispose of the appeal. Learned Counsel for the Appellant may file his Reply
within 4 weeks before the Adjudicating Authority.
[Justice Ashok Bhushan] Chairperson
[Mr. Barun Mitra] Member (Technical)
pks/nn
Company Appeal (AT) (Insolvency) No. 704 of 2023 2 of 2
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