https://www.taxtmi.com/caselaws?id=767756 NCLAT Chennai allowed the appeal and set aside the CIRP admission order. While the tribunal found an operational debt exceeding Rs. 1 crore existed and no pre-existing dispute was substantiated, Section 10A of the IBC barred inclusion of debts from 27 invoices that fell due during the moratorium period (25.03.2020 to 25.03.2021). After excluding these Section 10A period debts, only Rs. 2,86,762 remained from the pre-Section 10A period, falling below the Rs. 1 crore threshold required under Section 4 for CIRP initiation. The operational creditor retains rights to recover dues through other legal means excluding IBC proceedings. en-us Fri, 14 Feb 2025 00:00:00 +0530 Tue, 25 Mar 2025 08:48:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767756 NCLAT Chennai allowed the appeal and set aside the CIRP admission order. While the tribunal found an operational debt exceeding Rs. 1 crore existed and no pre-existing dispute was substantiated, Section 10A of the IBC barred inclusion of debts from 27 invoices that fell due during the moratorium period (25.03.2020 to 25.03.2021). After excluding these Section 10A period debts, only Rs. 2,86,762 remained from the pre-Section 10A period, falling below the Rs. 1 crore threshold required under Section 4 for CIRP initiation. The operational creditor retains rights to recover dues through other legal means excluding IBC proceedings. Case-Laws IBC Fri, 14 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767756