https://www.taxtmi.com/caselaws?id=299807 An application under section 9 of the Insolvency and Bankruptcy Code, 2016 was held not maintainable because the admitted operational debt was below the threshold required to initiate insolvency proceedings. The payable amount was found to be less than the prescribed limit notified for such proceedings, so the statutory condition for admission was not satisfied. The operative principle is that a section 9 application cannot proceed unless the operational debt meets the applicable threshold amount. en-us Fri, 23 Jul 2021 00:00:00 +0530 Thu, 30 Dec 2021 08:30:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299807 An application under section 9 of the Insolvency and Bankruptcy Code, 2016 was held not maintainable because the admitted operational debt was below the threshold required to initiate insolvency proceedings. The payable amount was found to be less than the prescribed limit notified for such proceedings, so the statutory condition for admission was not satisfied. The operative principle is that a section 9 application cannot proceed unless the operational debt meets the applicable threshold amount. Case-Laws Insolvency and Bankruptcy Fri, 23 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299807