Operational Creditor Cannot Change The 'Date Of Default' By Confining The Invoices To A Later Period: NCLT Mumbai Reiterates
The National Company Law Tribunal, Mumbai Bench, comprising of Shri H.V. Ltd., has reiterated that the Operational Creditor cannot change the 'date of default' by confining the invoices to a later period. On 15.05.2019 the Operational Creditor issued demand notice to the Corporate Debtor, demanding balance principle amount of Rs. Whether the 'Operational Creditor' can change the 'date of default' by confining the invoices to a later period, when the Demand Notice under section 8 includes all the invoices from the date of default and the 'debt amount' is crystallized based on the invoices. The Bench reiterated that as per the law laid down by the NCLAT in Next Education case, the Operational Creditor cannot change the 'date of default' by confining the invoices to a later period.
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