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TMI Blog2022 (2) TMI 672X X X X Extracts X X X X X X X X Extracts X X X X ..... to Adjudicating Authority) Rules, 2016 against Vasan Dental Hospitals Private Limited (hereinafter referred to as 'Corporate Debtor'). The prayer made is to admit the Application, to initiate the Corporate Insolvency Resolution Process against the Corporate Debtor, declare a moratorium and appoint Interim Resolution Professional (IRP). 2. Part I of the application, sets out the details of the Operational Creditor from which, it is evident that the Operational Creditor is M/s. Jamuna International. As per Part II of the application, the Corporate Debtor is a Private Limited Company with Corporate Identification No. U85110TN2010PTC074635 and the registered office of the Corporate Debtor as per the Application is stated to be at No. 5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... averred that the Operational Creditor had enquired the Corporate Debtor about the default vide e-mail dated 18.04.2018. In response to that, the Corporate Debtor had shared a copy of their ledger as on 31.03.2018 to acknowledge their debt to the Operational Creditor. 7. Subsequently, the Operational Creditor caused Demand Notice dated 22.03.2021 to the Corporate Debtor. Since, no response or repayment from the Corporate Debtor, the Operational Creditor had filed this application on 15.09.2021, sought initiation of CIRP against the Corporate Debtor. 8. This application came up before this Tribunal on 05.10.2021, wherein the Learned Counsel for the Operational Creditor is directed to establish the maintainability of this application on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... raised from Rs. 1 lakh to Rs. 1 crore. Accordingly, the application under section 7 or section 9 will be admissible only if the debt in default is more than the threshold amount of Rs. 1 crore. 12. Further it is pertinent to note that in Jumbo Paper Products Vs. Hans raj Agrofresh Pvt. Ltd. the Hon'ble Appellate Tribunal held that, "...notification dated 24.3.2020 (supra) makes it unambiguously clear that the threshold limit to be considered for section 9 application 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 present application under section 9 was filed on 15.09.2021, which is after 24.03.2020, t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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