NCLT Can Allow Date Of Default To Be Amended In CIRP Proceedings: NCLAT

The NCLAT held that the NCLT can allow the date of default to be amended in CIRP proceedings. The case involved the amendment of the date of default in corporate insolvency resolution proceedings (CIRP). The NCLAT ruled that such an amendment can be made by the NCLT, provided there is sufficient justification. This ruling clarifies the power of the NCLT to correct errors in the default date, ensuring accuracy in the proceedings and facilitating a fair resolution process under the Insolvency and Bankruptcy Code.