JK Food Products filed an application against Hocaps Facility Management Pvt Ltd under the IBC, 2016, seeking to recover a debt of Rs. 28,35,857/- plus interest. The application was filed after March 24, 2020. The Central Government had issued a notification under Section 4 of the IBC, 2016, increasing the pecuniary threshold for NCLT's jurisdiction from Rs. 1 lakh to Rs. 1 Crore. Since the debt claimed was less than Rs. 1 Crore and the application was filed after the notification date, the NCLT examined whether it had the jurisdiction to entertain the petition. The key fact is the timing of the filing of the application relative to the change in the pecuniary jurisdiction threshold.

JK Food Products filed an application against Hocaps Facility Management Pvt Ltd under the IBC, 2016, seeking to recover a debt of Rs. 28,35,857/- plus interest. The application was filed after March 24, 2020. The Central Government had issued a notification under Section 4 of the IBC, 2016, increasing the pecuniary threshold for NCLT's jurisdiction from Rs. 1 lakh to Rs. 1 Crore. Since the debt claimed was less than Rs. 1 Crore and the application was filed after the notification date, the NCLT examined whether it had the jurisdiction to entertain the petition. The key fact is the timing of the filing of the application relative to the change in the pecuniary jurisdiction threshold.