J.P Textile Timber Traders filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Gunatitay Infrastructure Pvt Ltd on 28.12.2020. The stated default amount was Rs. 23,04,564/-. The application was considered below the threshold and not maintainable according to the Ministry of Corporate Affairs notification dated 24th March, 2020, read with Section 4 of the IBC, 2016. The court also considered the NCLAT judgment in Jumbo Papers Products vs. Hansraj Agrofresh Pvt. Ltd., dated 25th October 2021. The issue in the NCLAT judgment is pending before the Supreme Court. The application was disposed of, but the applicant can revive it depending on the Supreme Court's decision.

J.P Textile Timber Traders filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Gunatitay Infrastructure Pvt Ltd on 28.12.2020. The stated default amount was Rs. 23,04,564/-. The application was considered below the threshold and not maintainable according to the Ministry of Corporate Affairs notification dated 24th March, 2020, read with Section 4 of the IBC, 2016. The court also considered the NCLAT judgment in Jumbo Papers Products vs. Hansraj Agrofresh Pvt. Ltd., dated 25th October 2021. The issue in the NCLAT judgment is pending before the Supreme Court. The application was disposed of, but the applicant can revive it depending on the Supreme Court's decision.