Tushar Kothari 18 June 2023
i had filed an application under seciton 9 of the insolvency and bankruptcy code 2016 for the default amount of Rs. 40lakh.
as earlier the limit was above 1 lakh now as per the recent judgment Jumbo Papers Product vs Hansraj Agrofresh Pvt.ltd the said limit was set to above 1 crore. now the NCLT disposed my application . Now what remedy is available? can i file suit in CIVIL Court for recovery of the said amount by way of Summary Suit?
Shashank Saxena (Lawyer) 18 June 2023
Normally, the course is to file an appeal before the NCLAT challenging the order and then move to the Supreme Court if the grievance remains unaddressed still. You can't file a civil suit for recovery on same set of causes or facts....you need to see if the order disposing of the application is a well reasoned order or not?
T. Kalaiselvan, Advocate (Advocate) 19 June 2023
You can prefer an appeal before NCLAT with your grievances against the aggrieved orders passed by NCLT
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