The applicant, Mayur Mistry, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against the respondent, Sadhana Paper Converter Pvt Ltd. The application was filed on March 11, 2021. The stated default amount was Rs. 2,85,000, which is less than the threshold of Rupees One Crore. The court noted the Notification of the Ministry of Corporate Affairs, New Delhi, dated March 24, 2020, read with Section 4 of the IBC, 2016, which sets the threshold. The court also considered the judgment of the Hon'ble NCLAT dated October 25, 2021, in the matter of Jumbo Paper Products Vs. HansrajAgrofresh Pvt. Ltd. The issue in the said judgment of Hon'ble NCLAT is pending for decision before the Hon'ble Supreme Court.

The applicant, Mayur Mistry, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against the respondent, Sadhana Paper Converter Pvt Ltd. The application was filed on March 11, 2021. The stated default amount was Rs. 2,85,000, which is less than the threshold of Rupees One Crore. The court noted the Notification of the Ministry of Corporate Affairs, New Delhi, dated March 24, 2020, read with Section 4 of the IBC, 2016, which sets the threshold. The court also considered the judgment of the Hon'ble NCLAT dated October 25, 2021, in the matter of Jumbo Paper Products Vs. HansrajAgrofresh Pvt. Ltd. The issue in the said judgment of Hon'ble NCLAT is pending for decision before the Hon'ble Supreme Court.