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2019 (10) TMI 1470 - AT - Insolvency and BankruptcyAdmissibility of application - monetary amount involved in the appeal - how Section 9 application was admitted if the amount is found to be ₹ 2173 which is much less than Rupees One Lakh? - HELD THAT:- At the stage of admission of application under Section 9, the Adjudicating Authority is required to notice whether the record is complete and there is a 'debt' and 'default' as per decision of the Hon'ble Supreme Court in 'Innoventive Industries Ltd. v. ICICI Bank', [2017 (9) TMI 58 - SUPREME COURT]. Even if the claim amount is disputed and is more than Rupees One Lakh, it is to be admitted, the Adjudicating Authority is not required to go into the details of verification of the claim which is required to be made by the 'Resolution Professional' and, therefore, even if some record shows that claim amount is Rupees One Lakh, it is always open to the 'Resolution Professional' to collate the claim. Appeal dismissed.
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