No Bar In Permitting Amendment Of Pleadings Or Filing Of Additional Documents In CIRP Application U/s 7 IBC: Supreme Court
Amendment of Pleadings or Filing of Additional Documents in CIRP Application U/s 7 IBC is not barred.
Case: Dena Bank vs. C. Shivakumar Reddy
Coram: Justices Indira Banerjee and V. Ramsubramanian
Case No: CA 1650 OF 2020
Court Observation: “Babulal Vardharji Gurjar (supra) is not an authority for the proposition that there can be no amendment of pleadings at the fag end of the NCLT proceeding. Moreover, in this case, the amendments were not made at the fag end of the proceedings but within 2/3 months of their initiation, before admission of the petition under Section 7 of the IBC.” “There is no bar in law to the amendment of pleadings in an application under Section 7 of the IBC, or to the filing of additional documents, apart from those initially filed along with the application under Section 7 of the IBC in Form-1. In the absence of any express provision which either prohibits or sets a time limit for filing of additional documents, it cannot be said that the Adjudicating Authority committed any illegality or error in permitting the Appellant Bank to file additional documents.”
Amendment Of Pleadings, Supreme Court, CIRP Application, IBC & Judgment.