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Judgment
Heard learned counsel for the Appellant. This Appeal has been filed challenging the order dated 18.10.2022 by which order the Adjudicating Authority has rejected the application under Section 9 filed by the Appellant.
The Appellant - Operational Creditor has filed Section 9 application claiming an amount of Rs.32,28,480 as principal due with interest of Rs.3,65,250/-. The Application was filed by the Appellant before the Adjudicating Authority on 29.06.2021. The Adjudicating Authority after hearing the parties came to the conclusion that the application filed after 24.03.2020 does not fulfil the threshold of Rs.1 Crore, hence, it is not maintainable. The Adjudicating Authority has rightly placed reliance on two judgments of this Tribunal for coming to the conclusion in Para 9, 11 and 12.
We do not find any error in the view taken by the Adjudicating Authority that application not fulfilling minimum threshold limit of Rs.1 Crore is not maintainable. We, thus, do not find any error in the order of the Adjudicating Authority rejecting Section 9 application filed by the Appellant.
Lastly, it is submitted by learned counsel for the Appellant that there was no occasion for imposition of cost of Rs.20,000/-, which has been imposed on the Appellant while dismissing the application.
We are of the view that present is a case where order imposing cost needs to be deleted.
Subject to deletion of cost, the Appeal is dismissed.