2023 (8) TMI 321 - SCH - Insolvency and Bankruptcy

Application filed under Section 9 of the IBC, 2016 rejected - rejection on the ground that it does not fulfil the threshold as prescribed under Section 4 proviso where minimum default amount has been increased to Rs. 1 Crores by Notification of MCA dated 24.03.2020 - it was held by NCLAT 2022 (12) TMI 1427 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL PRINCIPAL BENCH, NEW DELHI that no error has been committed in rejecting Section 9 application filed by the Appellant which did not fulfil the threshold of Rupees One Crore. HELD THAT - There are no reason to interfere in the order impugned passed by the National Company Law Appellate Tribunal - appeal dismissed.

Summary

Title: Supreme Court Judgment on Civil Appeal

Citation: 2023 (8) TMI 321 - SC Order

Judges: Hon'ble Mr. Justice Ajay Rastogi and Hon'ble Ms. Justice Bela M. Trivedi

Decision: The Supreme Court dismissed the civil appeal, finding no reason to interfere with the order passed by the National Company Law Appellate Tribunal on 21.12.2022.