https://www.taxtmi.com/caselaws?id=401393 The Tribunal dismissed the challenge to the maintainability of the insolvency application under Section 9 of the Insolvency and Bankruptcy Code. It held that the application was filed after the mandatory 10-day notice period and was not impacted by the notification increasing the minimum default amount. The Tribunal ruled that the notification was prospective and did not apply retroactively. Consequently, the application was deemed maintainable, and the Corporate Debtor's objection was rejected. en-us Tue, 01 Dec 2020 00:00:00 +0530 Mon, 07 Dec 2020 09:41:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401393 The Tribunal dismissed the challenge to the maintainability of the insolvency application under Section 9 of the Insolvency and Bankruptcy Code. It held that the application was filed after the mandatory 10-day notice period and was not impacted by the notification increasing the minimum default amount. The Tribunal ruled that the notification was prospective and did not apply retroactively. Consequently, the application was deemed maintainable, and the Corporate Debtor's objection was rejected. Case-Laws Insolvency and Bankruptcy Tue, 01 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401393