2021 (10) TMI 181

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....) And L.N. Gupta, Member (T) For the Appellant : Amol Vyas and Saumil Sharma, Advs ORDER 1. IA/4674/2020: By filing this IA, the Applicant has prayed for amendment in the application numbering IA-1317/2019 filed by the Applicant. The respondent has appeared and filed the reply. 2. Heard the Ld. Counsel for the Applicant as well as the Respondent and perused the averments made in the ap....

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.... incorporated by means of amendment. iii) Proposed amendment should not cause prejudice to the other side which cannot be compensated by means of costs. iv) No amendment should be allowed which amounts to or results in defeating a legal right to the opposite party on account of lapse of time. 5. He further submitted that by filing the proposed amendment application, the Applic....

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....hanged the cause of action on which LA No. 1317/2019 was filed but also create an entirely new case by way of an amendment. That through this instant application, the Applicant has sought to amend LA No. 1317 of 2019, challenging the decline in the value of inventory of the Corporate Debtor whereas the main application was filed by the Applicant under Section 66 of the Code thereby challenging the....

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....o option but to allow the prayer of the Applicant. Accordingly, we hereby allow the present IA and the proposed amendment. The Applicant is directed to incorporate the amendment proposed in this IA and file the amended application i.e., IA-1317/2019. 8. With this, the present IA stands disposed of. 9. IA-1317/2019: Ld. counsel for the Applicant seeks permission to file the amended copy of th....