# In the matter of Hocaps Facility Management Pvt. Ltd. IBA-819-2020

> NCLT judgment dated 2021-03-01. Citation: TCN-2021-NCLT-02880. The case involves an application filed by JK Food Products, the Petitioner/Operational…

- **Court:** NCLT
- **Order date:** 1 Mar 2021
- **Citation:** TCN-2021-NCLT-02880
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hocaps-facility-management-pvt-ltd-iba-819-2020-70887e21

## Summary

### Background

The case involves an application filed by JK Food Products, the Petitioner/Operational Creditor, against Hocaps Facility Management Pvt Ltd, the Corporate Debtor. The application was filed under the Insolvency and Bankruptcy Code (IBC), 2016. The claim amount in default is Rs. 28,35,857/- along with interest at 12% per annum.

## Facts

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.

## Issues and analysis

### Issue 1: Whether the National Company Law Tribunal (NCLT) has the pecuniary jurisdiction to entertain the …

**Ratio:** The pecuniary jurisdiction of a tribunal is determined by the statutory provisions and

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**Reasoning:** The NCLT reasoned that the Central Government's notification under Section 4 of the IBC,

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**Interpretation:** Section 4 of the IBC, 2016, allows the Central Government to specify the

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**Application:** In this case, the claim amount was Rs. 28,35,857/-, which is less than the

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## Parties

- **Judges:** R. VARADH…; Anil Ku…
- **Appellants:** JK Food Pr…
- **Respondents:** Hocaps Facility…

## Timeline

- **2020-03-24 — Pecuniary Threshold…**: The Central Government issued a notification under Section 4 of the IBC, 2016, increasing…
- **2021-03-01 — Hearing…**: Hearing held on March 1, 2021, at…

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