Sun Glass Works Pvt Ltd vs Regent Beers And Wines Limited

IN THE MATTER OF: Sun Glass Works Pvt. Ltd. ...Appellant

Versus

Regent Beers and Wines Ltd. ...Respondent

Present: For Appellant : Ms. Shweta Sharma, Mr. Diggaj Pathak, Ms. Vaibhavi Pathak and Mr. B. Abhishek, Advocates

For Respondent : Mr. Rohit Dubey, Advocate

ORDER

(Hybrid Mode)

11.03.2025 This appeal has been filed against an order dated

19.01.2024 passed by National Company Law Tribunal (Adjudicating

Authority), Indore Bench, Court-I by which Section 9 Application filed by the

Appellant has been rejected as not maintainable.

Learned Counsel for the Appellant submits that Adjudicating Authority

has committed error in relying on the payments made during pendency of the

proceeding for determining the threshold, whereas threshold has to be

determined on the date of filing of the Application. Learned Counsel for the

Appellant however, submits that the Appellant claim has already been paid.

Corporate Debtor has paid the amount as Appellant is not interested in

pursuing the matter any further.

Learned Counsel for the Respondent submits that in so far as question

of law is concerned the Respondent has no quarrel with the submission that

threshold has to be seen on the date of filing of the Application. In view of the facts of this case, we see no reason to keep the appeal pending. The entire

debt having been paid as committed the Appellate himself, the Appeal is

dismissed and order dismissing the Section 9 Application needs no

interference, however, we make it clear that the determination of threshold

under Section 4 has to be seen on the date when application is filed either

under Section 7 or Section 9.

Subject to the above clarification, we dismiss the Appeal.

[Justice Ashok Bhushan] Chairperson

[Arun Baroka] Member (Technical) pks/nn

Company Appeal (AT) (Insolvency) No. 467 of 2024 2 of 2