https://www.taxtmi.com/caselaws?id=415915 The application filed by the Operational Creditor under Section 9 of the IBC was dismissed for not meeting the jurisdictional threshold of Rs. 1 crore and for being barred by Section 10A. The Tribunal set aside the order of the Adjudicating Authority admitting the application and initiating CIRP. The Corporate Debtor was released from all the rigours of law and allowed to function independently. The dismissal of the application does not preclude the Operational Creditor from seeking appropriate remedy before a competent forum. en-us Mon, 13 Dec 2021 00:00:00 +0530 Fri, 17 Dec 2021 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415915 The application filed by the Operational Creditor under Section 9 of the IBC was dismissed for not meeting the jurisdictional threshold of Rs. 1 crore and for being barred by Section 10A. The Tribunal set aside the order of the Adjudicating Authority admitting the application and initiating CIRP. The Corporate Debtor was released from all the rigours of law and allowed to function independently. The dismissal of the application does not preclude the Operational Creditor from seeking appropriate remedy before a competent forum. Case-Laws Insolvency and Bankruptcy Mon, 13 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415915