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2021 (10) TMI 1279 - AT - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - alleged debt that is claimed to be payable in application under section 9 is below the threshold limit stipulated in the notification S.O 1205(E) dated 24.3.2020 issued by the Ministry of Corporate Affairs, Government of India, or not - HELD THAT:- A perusal of the judgment in MADHUSUDAN TANTIA VERSUS AMIT CHORARIA, FOSECO INDIA LIMITED [2020 (10) TMI 547 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI] shows that the demand notice under section 8 was issued on 31.7.2019 and the application under section 9 was filed on 5.9.2019. Both these dates are before 24.3.2020, and therefore threshold limit of the debt as per Law at the time the application under section 9 was filed was ₹ 1 lakh - the facts of the instant appeal are not same as the facts in the said judgement, as a result said judgement is not applicable. It is seen that notification dated 24.3.2020 makes it unambiguously clear that the threshold limit to be considered for section 9 application will be ₹ 1 crore. This threshold limit will be applicable for application filed u/s. 7 or 9 on or after 24.3.3020 even if debt is of a date earlier than 24.3.2020. Since the application under section 9 which is the subject matter of this appeal was filed on 13.9.2020, therefore the threshold limit of ₹ 1 crore of debt will be applicable in the present case. There are no reason to admit the appeal - appeal dismissed.
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