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Judgment
This Appeal has been filed against order dated 29.07.2022. passed by the Adjudicating Authority by which order Section 7 application filed by the Appellant has been rejected on the ground of not fulfilling the threshold limit. An application under Section 7 was filed by the Appellant on 10.06.2021 for an amount of Rs.89,05,000/-. The Adjudicating Authority held that the threshold having not been fulfilled the application is not maintainable.
Learned counsel for the Appellant submits that against the judgment of this tribunal in ‘Jumbo Paper Products vs. Hansraj Agro Fresh Pvt. Ltd.’ Appeal is pending in the Hon’ble Supreme Court where the Appellant has also filed an Intervention Application.
Be that as it may. The law is well settled by several judgments of this Tribunal that after 24.03.2020 when the threshold was amended under Section 4, application under Section 7 cannot be entertained where the threshold is less than one crore. We may also refer to judgment of this Tribunal in “Prafulla purushottamrao Gadge vs. Narayan Mangal & Anr.,Company Appeal (AT) (Ins.) No. 498 of 2022” decided on 06.05.2022. We, thus, do not find any error in the order impugned. Appeal is dismissed.