2024 (1) TMI 42

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.....e. C.P. (IB)/387(MB)/2021 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (in short 'Code') was dismissed with the following order:- "1. No representation on behalf of the Operational Creditor. Ms. Gayatri Mohite i/b The Law Point, Ld. Counsel for the Corporate Debtor present. 2. Counsel for the Corporate Debtor submits that the company petition was filed on 17.01.2021 claiming an amount of Rs.75 lakh which is below the threshold limit as per the Notification issued by the Ministry of Corporate Affairs vide notification dated 24.03.2020. 3. In view of the above notification, this Bench on perusal of records noticed that the Company Petition was filed below the threshold limit as prescribed under the Code. Hence, t....

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....ut the Appellant did not choose to file the appeal rather filed a flimsy application for seeking restoration of the petition on the pretext that the order dated 20.09.2022 has been passed in his absence, therefore, his petition has been dismissed for non-prosecution. 5. Faced with this argument, Counsel for the Appellant has argued that the order dated 20.09.2022 was passed by the Adjudicating Authority in the absence of the Appellant, therefore, it was presumed by the Appellant that it is a case where the petition has been dismissed on account of non-prosecution by the Appellant, therefore, the application for restoration of the petition was filed by the Appellant seeking recall of the order dated 20.09.2022 and afresh hearing in the matt....