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Judgment
ORDER
Representing Counsel Mr. Soliappan appears for Mr. Thriyambak J. Kannan, Advocate through video conferencing platform.
Upon a query posed by this Tribunal on default, Learned Counsel for Petitioner represents that a sum of Rs.11,53,883.63 along with a sum of Rs.5,99,322.35 towards interest which is calculated as on 31.01.2020 is due from the Corporate Debtor. From the endorsement made by the Registry, it is seen that the Petition has been filed on 20.11.2020.
It is pertinent to note that as on and from 24.03.2020 the threshold limit for entertaining such a petition has been enhanced from Rs.1 lakh to Rs.1 crore by virtue of notification issued by the Central Government under Section 4 of IBC, 2016.
In the circumstances, we find that this Tribunal does not have the pecuniary jurisdiction to entertain this Petition as it falls below the threshold limit of Rs.1 crore.
In the circumstances, under Section '4' of the IBC, 2016, we are constrained to dismiss this Petition. However, this will not prejudice the right of the Petitioner to approach the appropriate forum to proceed against the Corporate Debtor for the amount in default and its recovery.