Time of filing of CIRP application to be considered for requisite threshold limit u/s. 4 of IBC

Valiance Engineers Private Limited Vs Atmastco Limited (NCLT Cuttack)

NCLT Cuttack held that time of filing of CIRP application and not time of admission of application has to be considered for requisite threshold amount u/s. 4 of the Insolvency and Bankruptcy Code, 2016. Hence, GST debit-note and payment done after filing of application cannot be considered.

Facts- The present Application has been filed on 19.02.2024 by Valiance Engineers Private Limited (Operational Creditor) seeking to initiate Corporate Insolvency Resolution Process against Atmastco Li

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