https://www.taxtmi.com/caselaws?id=423263 The Tribunal dismissed the application under section 9 of the Insolvency and Bankruptcy Code, 2016, ruling it not maintainable due to the failure to meet the threshold limit set post the Ministry of Corporate Affairs notification of 24.3.2020. The Tribunal emphasized the retrospective application of the threshold limit of Rs. 1 crore for section 9 applications, regardless of the debt's origin date. The decision aimed to prevent unnecessary Corporate Insolvency Resolution Process proceedings during the COVID-19 pandemic's impact on companies. en-us Mon, 23 May 2022 00:00:00 +0530 Fri, 03 Jun 2022 08:26:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423263 The Tribunal dismissed the application under section 9 of the Insolvency and Bankruptcy Code, 2016, ruling it not maintainable due to the failure to meet the threshold limit set post the Ministry of Corporate Affairs notification of 24.3.2020. The Tribunal emphasized the retrospective application of the threshold limit of Rs. 1 crore for section 9 applications, regardless of the debt's origin date. The decision aimed to prevent unnecessary Corporate Insolvency Resolution Process proceedings during the COVID-19 pandemic's impact on companies. Case-Laws Insolvency and Bankruptcy Mon, 23 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423263