The application was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The operational creditor, Winttus Formwork Pvt Ltd, claimed that the corporate debtor, Jositha Infratech India Pvt Ltd, defaulted on a debt of Rs. 16,50,707. The application was filed on 31.12.2021.
Winttus Formwork Pvt Ltd, the operational creditor, filed an application under Section 9 of the IBC against Jositha Infratech India Pvt Ltd, the corporate debtor, for a default of Rs. 16,50,707. The application was filed on 31.12.2021. The Ministry of Corporate Affairs had issued a notification on 24.03.2020, raising the threshold limit for initiating CIRP to Rs. 1 crore. The NCLAT in Jumbo Paper Products vs Hansraj Agrofresh Pvt Ltd held that the revised threshold limit applies to applications filed on or after 24.03.2020. The debt claimed in this application was less than Rs. 1 crore.
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Ministry of Corporate Affairs issued…
Winttus Formwork Pvt Ltd filed an application…
The application was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The operational creditor, Winttus Formwork Pvt Ltd, claimed that the corporate debtor, Jositha Infratech India Pvt Ltd, defaulted on a debt of Rs. 16,50,707. The application was filed on 31.12.2021.
Winttus Formwork Pvt Ltd, the operational creditor, filed an application under Section 9 of the IBC against Jositha Infratech India Pvt Ltd, the corporate debtor, for a default of Rs. 16,50,707. The application was filed on 31.12.2021. The Ministry of Corporate Affairs had issued a notification on 24.03.2020, raising the threshold limit for initiating CIRP to Rs. 1 crore. The NCLAT in Jumbo Paper Products vs Hansraj Agrofresh Pvt Ltd held that the revised threshold limit applies to applications filed on or after 24.03.2020. The debt claimed in this application was less than Rs. 1 crore.
Ministry of Corporate Affairs issued…
Winttus Formwork Pvt Ltd filed an application…