Can Operational Creditors file CIRP application u/s 9 of IBC jointly to meet the threshold limit u/s 4 of IBC – Mr. Shailesh S Shenoy Vs. Gammon Engineers and Contractors Pvt. Ltd. – NCLT Mumbai Bench
This Company Petition is filed by ex-employees of Gammon Engineers and Contractors Pvt. Ltd. jointly, (Operational Creditors) seeking to initiate CIRP against Gammon Engineers and Contractors Pvt. Ltd. (Corporate Debtor) by invoking the provisions of Section 9 of the IBC. The Adjudicating Authority held that the facts of the case are identical to Sadashiv Nomaya Nayak & Ors. (2023) ibclaw.in 455 NCLAT, therefore, there is no merit in the present Company Petition. This Bench has no hesitation in holding that the claims of the Operational Creditor if considered individually in the above Company Petition do not meet the threshold limit and the Company Petition deserves to be dismissed on this ground alone.
