https://www.taxtmi.com/caselaws?id=418685 An application under the Insolvency and Bankruptcy Code, 2016 could not be pursued only for the interest component of an operational claim after the principal had been paid. The Tribunal noted that operational debt proceedings are not meant to act as a debt recovery forum for a disputed interest claim, particularly where there was no clear agreement establishing liability at the claimed rate and the correspondence showed only negotiations on reduction of interest. The dispute over interest required evidence and adjudication outside the insolvency process. The Tribunal also found no basis for malicious prosecution, but that did not cure the maintainability defect, and the petition was dismissed. en-us Fri, 28 Jan 2022 00:00:00 +0530 Tue, 22 Feb 2022 10:50:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418685 An application under the Insolvency and Bankruptcy Code, 2016 could not be pursued only for the interest component of an operational claim after the principal had been paid. The Tribunal noted that operational debt proceedings are not meant to act as a debt recovery forum for a disputed interest claim, particularly where there was no clear agreement establishing liability at the claimed rate and the correspondence showed only negotiations on reduction of interest. The dispute over interest required evidence and adjudication outside the insolvency process. The Tribunal also found no basis for malicious prosecution, but that did not cure the maintainability defect, and the petition was dismissed. Case-Laws Insolvency and Bankruptcy Fri, 28 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418685