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Tribunals and CommissionsDivision Bench(2022) 04 NCLT CK 0035

Fedex Express Transportation And Supplychain Services (India) Private Limited vs Amurtaye Impex India Private Limited

National Company Law Tribunal · Decided on 12 April 2022

HON’BLE JUDGES
Rajasekhar V.K., Member (J) · Virendra Kumar Gupta, Member (T)
RESULT
Allowed
CASE NUMBER
CP (IB) No. 36/ALD/2022
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Judgment

4 paragraphs · 152 words

Ld. Counsel present on behalf of the Operational Creditor.

1.

In this matter the amount to be in default is Rs. 74,94,438/- which is below the threshold limit of rupees one crore specified in Section 4 as amended as 24.03.2020. This application was filed before this Court on 03.02.2022 which is after the date on which the threshold limit was revised to Rs. 1.0 crore i.e. after 24.03.2020.

2.

Therefore, in terms of the order dated 25.10.2021 in Company Appeal (AT) (Insolvency) No. 813 of 2021 passed by the Hon’ble NCLAT, the petition is not maintainable and is dismissed as such.

3.

Liberty is granted to the operational creditor to file appropriate application for revival of Company Petition in case the Civil Appeal No. 7032/2021 filed by Jumbo Paper Products Private Limited Vs. HansrajAgrofresh Private Limited before the Hon’ble Supreme Court against the order dated 25.10.2021 passed by the Hon’ble NCLAT, succeeds.