M/s. Mahaveer Wires Sales Corporation, an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Arempee Compressors Private Limited, the Corporate Debtor. The application was filed on 08.10.2020, alleging a default on an operational debt of Rs.2,58,581/- plus interest at 18% from the invoice date. The Adjudicating Authority noted that a notification dated 24.03.2020 had raised the minimum default threshold to Rs.1,00,00,000/-. The relevance of the date of filing is that it determines whether the new threshold applies. The relevance of the notification is that it changes the maintainability criteria for insolvency applications.

M/s. Mahaveer Wires Sales Corporation, an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Arempee Compressors Private Limited, the Corporate Debtor. The application was filed on 08.10.2020, alleging a default on an operational debt of Rs.2,58,581/- plus interest at 18% from the invoice date. The Adjudicating Authority noted that a notification dated 24.03.2020 had raised the minimum default threshold to Rs.1,00,00,000/-. The relevance of the date of filing is that it determines whether the new threshold applies. The relevance of the notification is that it changes the maintainability criteria for insolvency applications.