Authority: Supreme Court of India
Order Date: 21 July 2026
Case Overview
- Civil Appeal No. 8970/2026 filed by Jai Sinter Polycon Private Limited (appellant) against Beria Commercial Impex Private Limited (respondent).
- The matter was listed for admission on 21‑07‑2026 before Hon'ble Mr. Justice K.V. Viswanathan and Hon'ble Mr. Justice Arun Palli.
- Counsel for the appellant, Mr. Rahul Jajoo, argued that the winding‑up petition was filed in the Calcutta High Court in September 2015, i.e., before the Insolvency and Bankruptcy Code, 2016 (the “Code”) came into force.
- Under Section 434 of the Companies Act, 1956, winding‑up petitions pending in High Courts were to be transferred to the National Company Law Tribunal (NCLT).
- The appellant contended that the threshold bar of Rs 1 crore for filing applications under Sections 7, 9 and 10 of the Code, which became effective on 24 March 2020, cannot be applied retrospectively to a petition filed in 2015.
- The counsel further submitted that the appellant’s rights crystallised on the date of filing the winding‑up petition and therefore the Code’s monetary threshold should not affect the present proceedings.
Final Outcome
- The Court ordered that a notice be issued to the respondent, with the matter returnable on 21 August 2026.
- The order was digitally signed by Deputy Registrar Court Master, Anita Malhotra, on 25 July 2026.
Topics: Insolvency Law, Supreme Court Proceedings