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2022 (9) TMI 170 - NATIONAL COMPANY LAW TRIBUNAL , NEW DELHI BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - pecuniary limit for filing application - time limitation - condonation of delay of 84 days under Section 5 of the Limitation Act, 1965 r/w Section 238A of the, IBC, 2016 - HELD THAT:- The Applicant had placed its reliance on the judgment passed by the Hon'ble Supreme Court of India wherein, exclusion was granted in "Cognizance for extension of limitation, In [2021 (3) TMI 497 - SC ORDER] and the same was followed by the Hon'ble National Company Law Appellate Tribunal, Delhi in Suo-Moto-Competition Appeal [2020 (6) TMI 495 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI] for the period from 15.03.2020 till 14.03.2021 - the delay of 84 days in filing the Section 9 Petition is condoned, following the said decision. Reliance placed in the Judgment of Hon'ble NCLAT in the matter of Jumbo Paper Products V. Hansraj Agrofresh Pvt. Ltd. [2021 (10) TMI 1279 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI] wherein it was held that statute/law can be applied retrospectively only if explicit provision regarding its retrospective application is made in the statute. It is seen that notification of MCA dated 24.3.2020 makes it unambiguously clear that the threshold limit to be considered for filing application under section 7 or 9 will be Rs. 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 instant application filed under section 9 of the Code which is the subject matter of our consideration was filed on 27.11.2021 and even the statutory demand notice U/s. 8 was sent on 28.10.2021, therefore the pecuniary threshold limit of Rs. 1 crore of debt will be applicable in the present case. Hence, the present Application as not maintainable. Application dismissed.
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