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TMI Blog2022 (3) TMI 1218X X X X Extracts X X X X X X X X Extracts X X X X ..... Crore or the earlier threshold limit i.e., prior to the notification of the Ministry of Corporate Affairs (Government of India) dated 24.03.2020 of Rupees One Lakh? - HELD THAT:- The Hon'ble NCLAT, New Delhi in a recent decision JUMBO PAPER PRODUCTS VERSUS HANSRAJ AGROFRESH PVT. LTD. [ 2021 (10) TMI 1279 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI ] has held that the threshold limit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... For the Appellant : Vinod Kumar Shah, Ld. PCS. For the Respondents : Pavan S. Godiawala, Ld. Adv. ORDER 1. This application has been filed by M/s. Ambica Auxiliaries Pvt. Ltd.- the Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as IBC, 2016 ) for initiation of the Corporate Insolvency Resolution Process (hereinafter refer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Corporate Debtor in Form-3 under Section 8 of the IBC, 2016 for the payment of ₹ 30,95,737/- which was delivered at the registered address of the Corporate Debtor on 30.12.2020. The Corporate Debtor neither repaid the debt nor replied to the demand notice. Hence, this application before this Adjudicating Authority is filed to initiate the CIRP. 4. Learned Counsel for the Corporate Debtor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Affairs (Government of India). Hence, the present petition is liable to be dismissed on this ground. 5. We have considered the submissions made on behalf of Learned Counsels for both sides. It is noted that the Operational Creditor supplied the goods and raised various invoices from 01.06.2018 to 09.03.2019 for the total amount of ₹ 30,95,734/-. 6. The Learned Counsel for the Corpora ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is of a date earlier than 24.03.2020. This decision of Hon'ble NCLAT is squarely applicable to the facts of the present case. 8. The present petition is filed by the Operational Creditor on 18.02.2021 for the default amount of ₹ 30,95,734/-, which is after the date of said notification. 9. Accordingly, the present application is not maintainable since the default amount is less tha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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