Total joint application of financial creditor above INR 1 Crore can initiate CIRP u/s 7

Vishnu Oil Mill Private Ltd Vs Union of India (Rajasthan High Court)

Held that application u/s 7 for triggering CIRP may be initiated by a financial creditor either individually or jointly with other financial creditors with total minimum threshold for initiation of CIRP being fixed at INR 1 Crore.

Facts-

The petitioner has approached this Court through this writ petition seeking to assail the validity of Section 7 of the Insolvency and

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