Insolvency Threshold Determined by Original Filing Amount, Not Subsequent Partial Payments Under Section 9

NCLAT held that the insolvency application's threshold must be assessed at the time of filing, not subsequent deposit. Despite respondent's partial payment reducing the outstanding amount below Rs. 1 Cr during proceedings, the original filing amount of Rs. 1,16,25,583/- remains determinative. The Tribunal's dismissal was deemed a patent error, and the matter was remanded for fresh adjudication in accordance with legal principles. The appellate tribunal allowed the appeal, directing the original tribunal to reconsider the Section 9 application based on the threshold existing at the time of initial filing. .....

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