Application u/s 9 of IBC, 2016 is maintainable irrespective of amount of claim

Aster Technologies Pvt. Ltd. Vs Solas Fire Safety Equipment Pvt. Ltd (NCLAT) Brief Facts: An application was filed under Section 9 of IBC and the Adjudicating Authority issued Notice but none appeared for Respondent. The Adjudicating Authority disposed of by directing the Respondent to settle the issue in question within a stipulated period while observing that: “the Respondent did not appear before the Adjudicating Authority, the amount involved in the case is mere Rs. 4.35 lakhs and initiation of CIRP is not a solution for the Petitioner, which is a small entrepreneur and operational Cre...