2023 (8) TMI 483

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....hok Bhushan ] Chairperson And [ Mr. Barun Mitra ] Member ( Technical ) For the Appellant : Mr. Kunal Anand, Mr. Prakhar Dixit, Ms. Tusharika Sharma, Advocates For the Respondent : Mr. Ankit Shah, Mr. Varun Gupta, Ms. Lakshita Arora, Ms. Simran Wason, Advocates ORDER Heard Shri Kunal Anand, Learned Counsel appearing for the Appellant and Shri Ankit Shah, Learned Counsel appearing for th....

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....ed the application. 6. Learned Counsel, Shri Anand challenging the order contends that since the Demand Notice was issued on 31.03.2020 prior to notification dated 24.03.2020, the threshold of the case ought to have Rs. One lakh only and the notification dated 24.03.2020 is not applicable in the facts of the present case. He further submits that the Supreme Court is already considering the issu....

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.....2020 and the date on which the application was filed i.e. 04.08.2020. The application u/s 9 has been filed on 04.08.2020 which is undisputed fact. The similar issue came for consideration in Comp. App. (AT)(Ins.) No. 1036/2022 where Demand Notice was issued on 05.03.2020 and section 8 application was filed subsequently on 18.01.2021. Arguments was addressed that since the Operational Creditor has....

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.... The applicability of Part II is dependent on minimum amount of default thus. 9. Section 6 of the Code provides for persons who may initiate Corporate Insolvency Resolution Process (CIRP). Section 6 is as follows:- "6. Persons who may initiate corporate insolvency resolution process. - Where any corporate debtor commits a default, a financial creditor, an operational credit....