# In the matter of Poultry Farm and Agro Pvt. Ltd. IB-818(ND)-2021

> NCLT judgment dated 2022-01-07. Citation: TCN-2022-NCLT-04499. The application IB-818/ND/2021 was filed before the National Company Law Tribunal (NCLT), New…

- **Court:** NCLT
- **Order date:** 7 Jan 2022
- **Citation:** TCN-2022-NCLT-04499
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/poultry-farm-and-agro-pvt-ltd-ib-818nd-2021-4d4c32cb

## Summary

### Background

The application IB-818/ND/2021 was filed before the National Company Law Tribunal (NCLT), New Delhi. The applicant sought initiation of corporate insolvency resolution process (CIRP) against the respondent. The application was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC).

## Facts

The applicant, Savvy Distributors, filed an application (IB-818/ND/2021) under Section 9 of the IBC against the respondent, Poultry Farm And Agro Ltd., seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The defaulted amount claimed by the applicant was Rs. 22,45,155.46 paise, which included a principal amount of Rs. 15,18,536 and an interest amount of Rs. 7,26,619.46 paise. The NCLT considered the threshold limit for application under Section 7, 9, or 10 of the IBC, which is Rs. one crore. Since the defaulted amount was less than the threshold, the application was dismissed.

## Issues and analysis

### Issue 1: Whether the application under Section 9 of the IBC is maintainable when the defaulted amount is …

**Ratio:** The minimum threshold limit for initiating CIRP under Section 7, 9, or 10 of the IBC is

…

**Reasoning:** The court reasoned that since the defaulted amount (Rs. 22,45,155.46 paise) was less than

…

**Interpretation:** Section 4 of the IBC sets the pecuniary jurisdiction for the applicability of

…

**Application:** In this case, the defaulted amount was Rs. 22,45,155.46 paise, which is less

…

## Parties

- **Judges:** ABNI RANJAN KUMAR…; AVINASH K.…
- **Appellants:** Savvy Distr…
- **Respondents:** Poultry Farm And…

## Timeline

- **2022-01-07 — Order Del…**: The order was delivered on January 7,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/poultry-farm-and-agro-pvt-ltd-ib-818nd-2021-4d4c32cb