https://www.taxtmi.com/caselaws?id=782338 NCLAT dismissed the appeal and upheld the admission of a Section 7 application under the IBC. It rejected the appellant's contention that the default amount of Rs. 41 lakhs was below the statutory threshold, holding that the computation argument was untenable on the facts. The Tribunal distinguished its earlier decision relied upon by the appellant, clarifying that the cited precedent concerned limitation and the effect of an arbitral award on the default date, which was not relevant here. Having found existence of financial debt and default, the adjudicating authority was held to have rightly admitted the Section 7 petition. en-us Mon, 27 Oct 2025 00:00:00 +0530 Fri, 28 Nov 2025 08:24:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782338 NCLAT dismissed the appeal and upheld the admission of a Section 7 application under the IBC. It rejected the appellant's contention that the default amount of Rs. 41 lakhs was below the statutory threshold, holding that the computation argument was untenable on the facts. The Tribunal distinguished its earlier decision relied upon by the appellant, clarifying that the cited precedent concerned limitation and the effect of an arbitral award on the default date, which was not relevant here. Having found existence of financial debt and default, the adjudicating authority was held to have rightly admitted the Section 7 petition. Case-Laws IBC Mon, 27 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782338