# In the matter of Jindal Saw Limited CP No. (IB) 76-ALD-2021

> NCLT judgment dated 2022-02-28. Citation: TCN-2022-NCLT-03946. The application was filed on 30.10.2021, after the threshold limits under Section 4 of the IBC…

- **Court:** NCLT
- **Order date:** 28 Feb 2022
- **Citation:** TCN-2022-NCLT-03946
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/jindal-saw-limited-cp-no-ib-76-ald-2021-36cb7139

## Summary

### Background

The application was filed on 30.10.2021, after the threshold limits under Section 4 of the IBC were triggered. The default amount claimed in the petition is ₹14,06,085, which is below the threshold limit of one crore rupees specified in section 4 after the amendment on 24.03.2022.

## Facts

An application was filed on 30.10.2021, claiming a default amount of ₹14,06,085. The application was filed under Section 4 of the IBC. The claimed amount is below the threshold limit of one crore rupees, as specified in section 4 after the amendment on 24.03.2022. The Hon'ble NCLAT passed an order on 25.10.2021 in Company Appeal (AT) (Insolvency) No. 813 of 2021. A Civil Appeal No. 7032 of 2021, in the matter of “Jumbo Paper Products Pvt. Ltd. Vs. Hansraj Agrofresh Pvt. Ltd.” is pending before the Hon'ble Supreme Court against the judgment dated 25.10.2021 passed by the Hon'ble NCLAT.

## Issues and analysis

### Issue 1: Whether the petition is maintainable given …

**Ratio:** A petition is not maintainable if it contradicts an order passed by a higher appellate

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**Reasoning:** The court relied on the order dated 25.10.2021 passed by the Hon'ble NCLAT in Company

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**Interpretation:** The interpretation is that the orders of higher appellate tribunals are binding

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**Application:** The court applied the ratio to the facts of the case, noting that the NCLAT

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## Parties

- **Judges:** Rajasekha…; Virendra Kumar…
- **Respondents:** Jindal Saw…

## Timeline

- **2021-10-30 — Application…**: The application was filed claiming…
- **2022-02-28 — Hearing…**: Attendance-cum-order…

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