# In the matter of Jositha Infratech India Private Limited CP (IB) No. 75-9-HDB-2022

> NCLT judgment dated 2022-03-25. Citation: TCN-2022-NCLT-03520. The application was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC) read with…

- **Court:** NCLT
- **Order date:** 25 Mar 2022
- **Citation:** TCN-2022-NCLT-03520
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/jositha-infratech-india-private-limited-cp-ib-no-75-9-hdb-2022-8d7d7341

## Summary

### Background

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.

## Facts

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.

## Issues and analysis

### Issue 1: Whether the application under Section 9 of the IBC is maintainable when the debt claimed is less …

**Ratio:** The threshold limit for initiating CIRP under Section 9 of the IBC is Rs. 1 crore, as

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**Reasoning:** The court relied on the notification issued by the Ministry of Corporate Affairs, which

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**Interpretation:** The notification issued by the Ministry of Corporate Affairs on 24.03.2020,

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**Application:** In this case, the debt claimed was Rs. 16,50,707, which is less than the

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. VEERA BRAHMA…
- **Appellants:** Winttus Formwork…
- **Respondents:** Jositha Infratech…

## Timeline

- **2020-03-24 — MCA Notifi…**: Ministry of Corporate Affairs issued notification No. S.O. 1205 (E), raising the…
- **2021-12-31 — Application…**: Winttus Formwork Pvt Ltd filed an application under Section 9 of the IBC against Jositha…

## 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)

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