https://www.taxtmi.com/caselaws?id=311434 The Tribunal dismissed the appeal, upholding the Adjudicating Authority's decision to reject the Appellant's application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for not meeting the amended threshold of Rs. 1 Crore. The Tribunal clarified that the notification dated 24th March, 2020, which increased the threshold from Rs. 1 Lakh to Rs. 1 Crore, is prospective and applies to applications filed after its implementation. Since the Appellant's application was filed on 27th March, 2021, it was rightly subject to the new threshold, leading to the dismissal of the appeal. en-us Mon, 08 Aug 2022 00:00:00 +0530 Tue, 26 Dec 2023 06:11:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311434 The Tribunal dismissed the appeal, upholding the Adjudicating Authority's decision to reject the Appellant's application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for not meeting the amended threshold of Rs. 1 Crore. The Tribunal clarified that the notification dated 24th March, 2020, which increased the threshold from Rs. 1 Lakh to Rs. 1 Crore, is prospective and applies to applications filed after its implementation. Since the Appellant's application was filed on 27th March, 2021, it was rightly subject to the new threshold, leading to the dismissal of the appeal. Case-Laws Insolvency and Bankruptcy Mon, 08 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311434