The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). The amount claimed to be in default is Rs. 14.27 lakhs, which is below the threshold limit of one crore rupees as specified in Section 4 of the IBC, as amended on March 25, 2020. The invoices presented are dated between March 2017 and November 2017.
Winntus Formworks Private Limited filed a petition against Harishchandra Builders Private Limited under Section 9 of the IBC, claiming a default of Rs. 14.27 lakhs. This amount is below the threshold of one crore rupees as per Section 4 of the IBC, amended on March 25, 2020. The invoices presented as evidence were dated between March 2017 and November 2017. The court noted that no material was presented to save the limitation period for the purpose of IBC. The petition was dismissed as not maintainable.
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Section 4 of the IBC…
Reference to Order dated 25.10.2021 in Company…
The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). The amount claimed to be in default is Rs. 14.27 lakhs, which is below the threshold limit of one crore rupees as specified in Section 4 of the IBC, as amended on March 25, 2020. The invoices presented are dated between March 2017 and November 2017.
Winntus Formworks Private Limited filed a petition against Harishchandra Builders Private Limited under Section 9 of the IBC, claiming a default of Rs. 14.27 lakhs. This amount is below the threshold of one crore rupees as per Section 4 of the IBC, amended on March 25, 2020. The invoices presented as evidence were dated between March 2017 and November 2017. The court noted that no material was presented to save the limitation period for the purpose of IBC. The petition was dismissed as not maintainable.
Section 4 of the IBC…
Reference to Order dated 25.10.2021 in Company…