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Judgment
The Court is convened through Video Conference.
Mr. Srikanth Kaveti a/w Mr. Adnan Ansari, Ld. Counsel for the Operational Creditor present. None for the Corporate Debtor.
Counsel for the Corporate Debtor submits that the company petition wasfiled on 29/08/2022 claiming an amount of Rs.95,79,800 which is below the threshold limit as per the Notification issued by the Ministry of Corporate Affairs vide notification dated 24.03.2020.
In view of the above notification, this Bench on perusal of records noticed that the Company Petition was filed below the threshold limit as prescribed under the Code. Hence, this Bench is of the considered view that the Petition filed u/s 9 of the Code is not maintainable and the same is liable to be dismissed. However, the Petitioner is at liberty to approach any forum as per Law.
CP.(IB)/1141(MB)2022 is dismissed with no costs.
Records be consigned to the record room.