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

> NCLT judgment dated 2022-01-07. Citation: TCN-2022-NCLT-04484. The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 7 Jan 2022
- **Citation:** TCN-2022-NCLT-04484
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/poultry-farm-and-agro-pvt-ltd-ib-818nd-2021-99b8c152

## Summary

### Background

The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). The applicant sought initiation of the Corporate Insolvency Resolution Process (CIRP) against the respondent, Poultry Farm And Agro Ltd., based on a defaulted amount.

## Facts

Savvy Distributors filed an application under Section 9 of the IBC against Poultry Farm And Agro Ltd. The claimed defaulted amount was Rs. 22,45,155.46 paise, including a principal amount of Rs. 15,18,536 and an interest amount of Rs. 7,26,619.46 paise. The court noted that the minimum threshold limit for application under Section 7, 9, or 10 of the IBC is Rs one crore. Because the defaulted amount was less than one crore, the application was deemed not maintainable.

## Issues and analysis

### Issue 1: Whether the defaulted amount meets the minimum threshold limit for initiating Corporate Insolvency …

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

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**Reasoning:** The court reasoned that Section 4 of the IBC, read with the NCLAT's interpretation and

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**Interpretation:** Section 4 of the IBC sets the pecuniary jurisdiction for the code, and the

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

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## Parties

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

## Timeline

- **2022-01-07 — Order Del…**: The order was delivered, dismissing the application due to the defaulted amount being…

## 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)

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