Coffee Day Insolvency Plea Allowed as NCLT Permits Change in Date of Default

Rechtsanwalt Dr. Christian Bachmann Vs Coffee Day Global Limited (NCLT Bengaluru) The National Company Law Tribunal (NCLT), Bengaluru Bench, allowed an application seeking amendment of the date of default in a pending petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Coffee Day Global Limited. The applicant sought permission to amend the date of default in Form-5 from 27.11.2020 to 30.09.2019, contending that the original date had been mentioned because the Vienna Commercial Court awarded interest from 27.11.2020, whereas the actual first default occurred when ...