The threshold of Rs. 1 crore denotes the total default of the Corporate Debtor to any Financial Creditor and not necessarily only to the Applicant Allottees | For calculating the total number of allottees, only the number of allotted units in a project shall be considered, irrespective of the number of units constructed | In cases of joint allotments, wherein a single unit is allotted to more than one person, the joint allottees of that unit shall be considered to mean a single allottee – Gajraj Jain Vs. Shivgyan Developers Pvt. Ltd. – NCLT Jaipur Bench

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Adjudicating Authority does not have the jurisdiction to allow an application filed by RP for recovery of debt due to the Corporate Debtor – Mr. Ajit Kumar RP For Jadoun International Pvt. Ltd. Vs. Kanak Marbles & Granites Pvt. Ltd. and Suspended Board of Director Represented Through Mr. Sourabh Singh Jadoun – NCLT Jaipur Bench

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When no cooperation by Personal Guarantor, there is no requirement to summon the meeting of Creditors and Creditors shall be entitled to file an application for Bankruptcy under Chapter IV of the IBC – State Bank of India Vs. Shri Kailash Chandak – NCLT Jaipur Bench

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