https://www.taxtmi.com/caselaws?id=419773 A section 9 insolvency application based on invoices due in July and August 2017 was filed in June 2021 and was held barred by limitation under Article 137 of the Limitation Act because it was brought more than three years after the right to apply accrued. The proceeding was also found not maintainable because the claimed default of Rs. 5,22,852.25 was below the minimum default threshold of Rs. 1 crore prescribed by Notification No. 1205(E) dated 24.03.2020. The request to initiate the corporate insolvency resolution process therefore failed on both grounds. en-us Mon, 07 Mar 2022 00:00:00 +0530 Mon, 21 Mar 2022 08:13:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419773 A section 9 insolvency application based on invoices due in July and August 2017 was filed in June 2021 and was held barred by limitation under Article 137 of the Limitation Act because it was brought more than three years after the right to apply accrued. The proceeding was also found not maintainable because the claimed default of Rs. 5,22,852.25 was below the minimum default threshold of Rs. 1 crore prescribed by Notification No. 1205(E) dated 24.03.2020. The request to initiate the corporate insolvency resolution process therefore failed on both grounds. Case-Laws Insolvency and Bankruptcy Mon, 07 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419773