https://www.taxtmi.com/caselaws?id=422493 The Tribunal dismissed the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, as the claimed debt of Rs. 8,21,294 was below the threshold limit of one crore prescribed by the notification dated 24/03/2020. Relying on NCLAT judgments, the Tribunal held that the increased threshold applied prospectively to applications filed after the notification date. Therefore, the petition was deemed not maintainable, and the Corporate Insolvency Resolution Process was not initiated against the Corporate Debtor. en-us Wed, 27 Apr 2022 00:00:00 +0530 Tue, 17 May 2022 08:39:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422493 The Tribunal dismissed the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, as the claimed debt of Rs. 8,21,294 was below the threshold limit of one crore prescribed by the notification dated 24/03/2020. Relying on NCLAT judgments, the Tribunal held that the increased threshold applied prospectively to applications filed after the notification date. Therefore, the petition was deemed not maintainable, and the Corporate Insolvency Resolution Process was not initiated against the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Wed, 27 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422493