https://www.taxtmi.com/caselaws?id=313283 The Tribunal ruled that the Application under Section 9 was not maintainable due to the threshold amount requirement, as the claimed amount was below the revised limit of Rs. 1 Crore. Consequently, the Tribunal set aside the interim order restraining the Corporate Debtor and rejected Application No. IB-100/(ND)/2021. The Registry was directed to inform the NCLT to record the application's rejection. No costs were awarded. The judgment underscored the necessity of complying with statutory requirements and thresholds in insolvency proceedings. en-us Wed, 09 Feb 2022 00:00:00 +0530 Thu, 04 Apr 2024 19:17:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313283 The Tribunal ruled that the Application under Section 9 was not maintainable due to the threshold amount requirement, as the claimed amount was below the revised limit of Rs. 1 Crore. Consequently, the Tribunal set aside the interim order restraining the Corporate Debtor and rejected Application No. IB-100/(ND)/2021. The Registry was directed to inform the NCLT to record the application's rejection. No costs were awarded. The judgment underscored the necessity of complying with statutory requirements and thresholds in insolvency proceedings. Case-Laws Insolvency and Bankruptcy Wed, 09 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313283