The case involves a company petition filed on October 11, 2022, claiming an operational debt of Rs. 40,71,626. This debt claim arose after the MCA notification dated March 24, 2020, which raised the threshold limit from Rs. 1 lac to Rs. 1 Crore.
A company petition was filed on October 11, 2022, seeking to claim an operational debt of Rs. 40,71,626. The debt claim was made after the MCA notification dated March 24, 2020, which increased the threshold limit from Rs. 1 lac to Rs. 1 Crore. The advocate representing the Operational Creditor was notified about a legal issue and requested an adjournment, but then disappeared. The court determined that the company petition did not meet the threshold limit and was therefore subject to rejection.
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MCA notification raised…
Company petition filed…
The case involves a company petition filed on October 11, 2022, claiming an operational debt of Rs. 40,71,626. This debt claim arose after the MCA notification dated March 24, 2020, which raised the threshold limit from Rs. 1 lac to Rs. 1 Crore.
A company petition was filed on October 11, 2022, seeking to claim an operational debt of Rs. 40,71,626. The debt claim was made after the MCA notification dated March 24, 2020, which increased the threshold limit from Rs. 1 lac to Rs. 1 Crore. The advocate representing the Operational Creditor was notified about a legal issue and requested an adjournment, but then disappeared. The court determined that the company petition did not meet the threshold limit and was therefore subject to rejection.
MCA notification raised…
Company petition filed…