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NATIONAL COMPANY LAW TRIBUNAL
SHRI SAMEER KAKAR, MEMBER (TECHNICAL), SHRI NILESH SHARMA, MEMBER (JUDICIAL)
Matoshri Laxmi Sugar Co-Generation Industries Limited – Appellant
Versus
Union Bank of India – Respondent
| Table of Content |
|---|
| 1. application filed under nclt rules. (Para 1 , 2) |
| 2. arguments for recalling the order. (Para 3 , 4) |
| 3. court's analysis on procedural correctness. (Para 5 , 6 , 7 , 8 , 9 , 10 , 11) |
| 4. clarification on recall powers of the tribunal. (Para 12 , 13 , 14 , 15) |
| 5. distinction of relevant case law. (Para 16 , 17) |
| 6. dismissal of the application. (Para 18) |
ORDER
[PER: CORAM]
1. This is an application filed by the Applicant- Matoshri Laxmi Sugar Co-Generation Industries Limited (i.e. “the Corporate Debtor”) against the Respondent-Union Bank of India (i.e. the “Financial Creditor”) under Rule 11 of the NCLT Rules, 2016 seeking the following reliefs:
A. Recall and set aside the Order dated 01.05.2025 passed in CP(IB) No. 195/MB/2025 to the extent it permits the Applicant/Financial Creditor to amend Form 1 and revise the originally stated date of default;
B. Direct that the Company Petition be adjudicated strictly on the basis of pleadings and documents as originally filed without any amendment to the date of default;
C. Pass such other and further orders as this Tribunal may deem fit and proper in the interest of justice and equity.
2. Vide Order dated 01.05.2025, this Bench had stat
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