# In the matter of A C & R Appliances Private Limited

> NCLT judgment dated 2023-11-28. Citation: TCN-2023-NCLT-00552. The petition was filed on 2023-04-15 for a debt and default of Rs. 22,33,395.14. The threshold…

- **Court:** NCLT
- **Order date:** 28 Nov 2023
- **Citation:** TCN-2023-NCLT-00552
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/a-c-r-appliances-private-limited-f006b184

## Summary

### Background

The petition was filed on 2023-04-15 for a debt and default of Rs. 22,33,395.14. The threshold limit was increased to Rs. 1 Crore as per notification dated 2020-03-24 under Section 4 of the Code.

## Facts

A petition was filed on 2023-04-15 for a debt and default of Rs. 22,33,395.14. The notification dated 2020-03-24 under Section 4 of the Code increased the threshold limit to Rs. 1 Crore. The petition was deemed not maintainable because the debt amount was below the threshold limit.

## Issues and analysis

### Issue 1: Whether the company petition bearing no. 669/2022 is maintainable given that the debt amount is …

**Ratio:** The threshold limit for initiating insolvency proceedings has been increased to Rs. 1

…

**Reasoning:** The court reasoned that since the debt amount of Rs. 22,33,395.14 is below the threshold

…

**Interpretation:** The notification dated 2020-03-24 under Section 4 of the Code increased the

…

**Application:** Since the debt amount is Rs. 22,33,395.14, which is less than the threshold

…

## Parties

- **Judges:** Prabhat…; Reeta K…
- **Appellants:** Shankeshwar…
- **Respondents:** A C & R Appliances…

## Timeline

- **2023-04-15 — Petition…**: The petition was filed for a debt…
- **2020-03-24 — Notificatio…**: Notification date under Section 4 of the Code, increasing the threshold limit to Rs. 1…

## 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-division-bench-court-i-chenn/a-c-r-appliances-private-limited-f006b184