https://www.taxtmi.com/caselaws?id=423326 The Tribunal dismissed the application for Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016 as it did not meet the minimum threshold limit required by the Central Government. The application, filed by the Operational Creditor against the Corporate Debtor for an alleged default amount, was found to be below the pecuniary jurisdiction set by the relevant notification. The Tribunal's decision was supported by a precedent emphasizing the retrospective application of the threshold limit specified in a notification, leading to the dismissal of the CIRP application. en-us Tue, 24 May 2022 00:00:00 +0530 Sat, 04 Jun 2022 08:31:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423326 The Tribunal dismissed the application for Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016 as it did not meet the minimum threshold limit required by the Central Government. The application, filed by the Operational Creditor against the Corporate Debtor for an alleged default amount, was found to be below the pecuniary jurisdiction set by the relevant notification. The Tribunal's decision was supported by a precedent emphasizing the retrospective application of the threshold limit specified in a notification, leading to the dismissal of the CIRP application. Case-Laws Insolvency and Bankruptcy Tue, 24 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423326