https://www.taxtmi.com/caselaws?id=417050 The Tribunal dismissed the application, ruling it not maintainable due to the increased jurisdictional limit aligning with the amended Section 4 of the IBC and the provisions of Section 10A, which bars CIRP filings for defaults post-25 March 2020 to protect corporate debtors from immediate insolvency proceedings. The judgment emphasizes the procedural nature of the threshold increase to Rs. 1 crore, clarifying that parties must comply with the amended limit even for debts predating the amendment, highlighting the Tribunal's alignment with the Adjudicating Authority's decision. en-us Mon, 10 Jan 2022 00:00:00 +0530 Fri, 14 Jan 2022 08:38:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417050 The Tribunal dismissed the application, ruling it not maintainable due to the increased jurisdictional limit aligning with the amended Section 4 of the IBC and the provisions of Section 10A, which bars CIRP filings for defaults post-25 March 2020 to protect corporate debtors from immediate insolvency proceedings. The judgment emphasizes the procedural nature of the threshold increase to Rs. 1 crore, clarifying that parties must comply with the amended limit even for debts predating the amendment, highlighting the Tribunal's alignment with the Adjudicating Authority's decision. Case-Laws Insolvency and Bankruptcy Mon, 10 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417050