https://www.taxtmi.com/caselaws?id=381890 Interest on unpaid sale price may be claimed by an operational creditor where the commercial supply transaction is undisputed and no contractual bar exists; the note states that statutory interest under the Sale of Goods Act can form part of the debt, though an excessive rate may be moderated to a reasonable level. It also records that purchase orders, invoices and repeated acknowledgments supported proof of operational debt and default, so the insolvency petition was considered fit for admission under the Insolvency and Bankruptcy Code, subject to limitation being satisfied. The text further notes that the matter was ultimately deferred because of a difference of opinion. en-us Mon, 06 May 2019 00:00:00 +0530 Fri, 21 Jun 2019 08:53:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381890 Interest on unpaid sale price may be claimed by an operational creditor where the commercial supply transaction is undisputed and no contractual bar exists; the note states that statutory interest under the Sale of Goods Act can form part of the debt, though an excessive rate may be moderated to a reasonable level. It also records that purchase orders, invoices and repeated acknowledgments supported proof of operational debt and default, so the insolvency petition was considered fit for admission under the Insolvency and Bankruptcy Code, subject to limitation being satisfied. The text further notes that the matter was ultimately deferred because of a difference of opinion. Case-Laws Insolvency and Bankruptcy Mon, 06 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381890