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2024 (1) TMI 42 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHIMaintainability of application for restoration of the petition before the Adjudicating Authority - failure to cross the threshold limit - appeal dismissed also on the ground of threshold limit and not only on the ground of non-appearance of the appellant. HELD THAT:- In the ordinary course, had an order been passed by the Adjudicating Authority dismissing the petition filed under Section 9 of the Code only on the ground of non-appearance of the appellant then the application for recalling of the order dated 20.09.2022 could have been maintainable but the facts are otherwise because the order dated 20.09.2022 was passed on merits by the Adjudicating Authority holding that the petition under Section 9 is not maintainable as it has failed to cross the threshold limit as per Notification dated 24.03.2020 issued by the MCA. This order could have been challenged by way of an appeal by the Appellant before the Appellate Authority but the Appellant did not choose to file the appeal rather filed a frivolous application for restoration of the petition, may be under wrong belief, that the petition has been dismissed for non-appearance of the appellant only - Thus, no error is committed by the Adjudicating Authority in dismissing the application for restoration vide impugned order dated 23.03.2023 because it has been observed that the order dated 20.09.2022 has been passed on merits much less on the ground that the Appellant has failed to cross the threshold limit as provided because the amount which has been sought to be resolved was Rs. 75 Lakh whereas after the amendment the threshold has been increased to Rs. 1 Crore. There are no merit in this appeal and the same is hereby dismissed.
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