Prospective Application of Notification raising IBC threshold for CIRP

Arrowline Organic Products Pvt. Ltd. Vs Rockwell Industries Limited (National Company Law Tribunal) FACTS M/s Rockwell Industries Limited (hereinafter referred as the Respondent/ Operational Creditor) filed an application for initiation of Corporate Insolvency Resolution Process (hereinafter refereed as CIRP) under Section 9 of the Insolvency & Bankruptcy Code, 2016 (I&B Code) against M/s Arrowline Organic Products Pvt. Ltd. (hereinafter referred as the Applicant/Corporate Debtor) and an order of admission was passed by the Adjudicating Authority dated 05.05.2020. However, a notificati...