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TMI Blog2023 (8) TMI 483X X X X Extracts X X X X X X X X Extracts X X X X ..... .08.2020 which is undisputed fact. The similar issue came for consideration in [ 2022 (9) TMI 954 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHI] 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 served the Demand Notice, the application filed on 18.01.2021 was maintainable on the threshold of Rs. One lakh. The application of the Appellant having been filed on 04.08.2020 i.e. subsequent to 24.03.2020 should fulfil the threshold of Rs. One crore and the Adjudicating Authority did not commit any error in rejecting Section 9 application. There are no merit in this appeal - appeal dismisse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 20 is not applicable in the facts of the present case. He further submits that the Supreme Court is already considering the issue in Civil Appeal No. 7032/2021, the Jumbo Paper Products Vs. Hansraj Agrofresh Pvt. Ltd. 7. Learned Counsel for Respondent refuting the submission submits that the relevant date for examining the threshold is the date when the application was filed. He submits that the issue has been considered and decided by this Tribunal in Hyline Mediconz Pvt. Ltd.Vs. Anandaloke Medical Centre Pvt. Ltd. in Comp. App.(AT) Ins. No. 1036/2022 and several other judgements of this Tribunal. He submits that date of giving notice u/s 8 is not relevant for determining the threshold. 8. We have considered the submission of the Lea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons 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 creditor or the corporate debtor itself may initiate corporate insolvency resolution process in respect of such corporate debtor in the manner as provided under this Chapter. 11. The above judgement fully covers the issues raised in this appeal. The application of the Appellant having been filed on 04.08.2020 i.e. subsequent to 24.03.2020 should fulfil the threshold of Rs. One crore and the Adjudicating Authority did not commit any error in rejecting Section 9 application. We do not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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