The Tribunal dismissed an application filed by Axis Bank seeking to amend prayers regarding water supply bills and penal charges. The Court held that allowing amendments whenever a new cause of action arises would defeat the purpose of Section 60(5) IBC.
Application dismissed with liberty to move a fresh application.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
SL.No.1
NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH COURT HALL NO: II
PHYSICAL HEARING
CORAM: JUSTICE TELAPROLU RAJANI – HON’BLE MEMBER (J) CORAM: SHRI CHARAN SINGH - HON’BLE MEMBER (T)
ATTENDANCE-CUM-ORDER SHEET OF THE HEARING OF NATIONAL COMPANY LAW TRIBUNAL, HYDERABAD BENCH, HELD ON 04.07.2023 AT 02:30 PM
| TRANSFER PETITION NO. | |
|---|---|
| COMPANY PETITION/APPLICATION NO. | IA (IBC)/515/2021 IA (IBC)/770/2021 in CP (IB) No.420/7/HDB/2018 |
| NAME OF THE COMPANY | Lanco Amarkantak Power Ltd |
| NAME OF THE PETITIONER(S) | Axis Bank Ltd |
| NAME OF THE RESPONDENT(S) | Lanco Amarkantak Power Ltd |
| UNDER SECTION | 7 of IBC |
ORDER
IA (IBC)/515/2021
This application is dismissed, vide separate orders.
IA (IBC)/770/2021
This application was mentioned by mistake that it is posted for orders. In fact we did not hear the matter. For hearing, post on 13.07.2023.
Sd/Sd/- MEMBER (T) MEMBER (J)
Apoorva
IN THE NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH – II
IA No.515 of 2021 in CP(IB) No.420/7/HDB/2018 Under Section 60(5) of IBC, 2016
In the matter of:
Axis Bank Trishul, 3rd Floor, Opp: Samrtheshwar Temple, Law Garden, Ellis Bridge, Ahmedabad – 380 006.
.... Financial Creditor/ Petitioner
Vs.
Lanco Amarkantak Power Limited, Plot No.4, Software Units Layout, Hitech City, Madhapur, Hyderabad – 500 081.
…. Corporate Debtor
And in the matter of :
Saurabh Kumar Tikmani, Resolution Professional of Lanco Amarkantak Power Ltd. KPMG Restructuring Services LLP First Floor, Lodha Excelus Apollo Mills Compound, N M Joshi Marg, Mahalaxmi, Mumbai – 400 011.
…. Applicant
Vs.
Water Resource Department, Government of Chattisgarh, Mantralaya, Mahanadi Bhawan, Naya Raipur, C.G – 492 101.
…. Respondent
1
IA No.515 of 2021 in CP No.420/07/HDB/2018
Order dated : 03.07.2023
Date of order: 04.07.2023
CORAM :
Hon’ble Justice Smt. Telaprolu Rajani, Member (Judicial) Hon’ble Sri Charan Singh, Member (Technical)
Counsels present : For the Applicant : Ms. Rubaina S Khatoon, Advocate Heard on : 28.06.2023
[PER: BENCH] ORDER
2
IA No.515 of 2021 in CP No.420/07/HDB/2018
Order dated : 03.07.2023
mentioned as CP(IB) No.420/7/HDB/2018, is admitted by virtue of the Order dated 05.09.2019. There is one more IA pending before this Tribunal in the above captioned Company Petition which is IA 770 of 2021. We have to treat this application as an application seeking for amending the prayers in IA 770 of 2021 and we need to advert to the facts.
3
IA No.515 of 2021 in CP No.420/07/HDB/2018
Order dated : 03.07.2023
Hence, the Applicant cannot be permitted to go on amending the prayers as and when the cause of action arises against the Respondent.
Sd/- Sd/(CHARAN SINGH) (JUSTICE TELAPROLU RAJANI) MEMBER (TECHNICAL) MEMBER (JUDICIAL)
VL
4
2 issues framed by the court
Whether an application filed under Section 60(5) of IBC for amendment of prayers can be allowed when the cause of action has arisen subsequent to the filing of the original application.
The maintainability of amending applications whenever a new cause of action arises against the respondent.|Whether leave to amend prayers must be denied to prevent piecemeal litigation in insolvency p
Axis Bank Trishul
Water Resource Department, Government of Chattisgarh
Telaprolu Rajani
Charan Singh
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
