The appeal was filed against an order dated 2023-02-08 by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench, Mumbai), which admitted an application under Section 7 of the IBC, 2016 filed by some home buyers against K.D. Lite Developers Private Limited (Corporate Debtor) for the initiation of CIRP. The IRP was appointed, and a moratorium was imposed. The appellant argued that the home buyers did not meet the threshold requirements under Section 7(1) of the IBC. The appellant also raised issues of threshold and limitation, which were not decided by the Tribunal. The appellant contended that the total number of home buyers is 209, requiring a threshold of 21, but the application was filed by fewer home buyers. The Tribunal only noticed Section 7(1)

The appeal was filed against an order dated 2023-02-08 by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench, Mumbai), which admitted an application under Section 7 of the IBC, 2016 filed by some home buyers against K.D. Lite Developers Private Limited (Corporate Debtor) for the initiation of CIRP. The IRP was appointed, and a moratorium was imposed. The appellant argued that the home buyers did not meet the threshold requirements under Section 7(1) of the IBC. The appellant also raised issues of threshold and limitation, which were not decided by the Tribunal. The appellant contended that the total number of home buyers is 209, requiring a threshold of 21, but the application was filed by fewer home buyers. The Tribunal only noticed Section 7(1)