NCLT Mumbai Bench held that the underlying Company Petition filed by the operational creditor was not maintainable as it did not meet the threshold limit specified in the Ministry of Corporate Affairs notification dated 24.03.2020.
IA 1834/2022 allowed and disposed of; underlying Company Petition dismissed with no cost.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH COURT-IV
CORAM:
SHRI MANOJ KUMAR DUBEY MEMBER (Technical)
SHRI KISHORE VEMULAPALLI
MEMBER (Judicial)
RDER SHEET OF THE HEARING HELD ON 17.11.2022
Name of the Party: Sai Petroleum - Partnership Firm Vs.
India Steel Works Limited
Section 9, 60(5) of Insolvency and Bankruptcy Code, 2016
ORDER
The Court is convened through Video Conference.
IA 1834/2022
Sd/- Sd/-
KISHORE VEMULAPALLI Member (Judicial)
/Dubey/
MANOJ KUMAR DUBEY Member (Technical)
1 issue framed by the court
Whether a company petition filed under Section 9 of the Insolvency and Bankruptcy Code is maintainable when it falls below the threshold limit prescribed by the Ministry of Corporate Affairs.
2 provisions across 1 enactments
Sai Petroleum - Partnership Firm
Manoj Kumar Dubey
Kishore Vemulapalli
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
