Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 27 October 2026
Case Overview
The appeal was filed by Matrix Infra Global Engineering Pvt. Ltd. (Appellant) against an order of the Adjudicating Authority (NCLT) concerning its petition against AKMB Projects Pvt. Ltd. (Respondent). The Appellant had filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) before the NCLT, which was rejected. The core issue leading to the rejection was the Adjudicating Authority's finding that the minimum debt threshold of Rs. 1 crore, as mandated by Section 4 of the IBC, was not met. The Appellant contends this was a mistake, arguing that documents enclosed with its application clearly demonstrated the threshold was satisfied. Furthermore, the NCLT, in its impugned order (paragraph 12), imposed a cost of Rs. 50,000 on the Appellant. The Appellant argues this cost was uncalled for as the NCLT did not make a finding that the proceedings were malicious or filed with bad intent.
Final Outcome
The NCLAT admitted the appeal for hearing. It issued formal notice to the Respondent (AKMB Projects Pvt. Ltd.) and directed the Appellant to complete all necessary steps for serving this notice, including paying the process fee, within three working days. The matter was listed for the next hearing on 04 December 2026 under the caption 'For Admission (After Notice)'. Crucially, the Appellate Tribunal granted an interim stay on the operation of the cost of Rs. 50,000 imposed by the NCLT, meaning this penalty does not need to be paid until further orders from the NCLAT.
Topics: Insolvency Petition, Debt Threshold, Legal Costs