https://www.taxtmi.com/caselaws?id=301027 The Tribunal rejected the petition for initiation of Corporate Insolvency Resolution Process under section 9 of the Insolvency Bankruptcy Code. It held that the claim for interest by the Operational Creditor was disputed and should be resolved through a civil court, as the principal amount had been paid by the Corporate Debtor. The Tribunal found that the interest claim alone did not qualify as an operational debt under the Code, leading to the dismissal of the petition without any costs awarded. en-us Wed, 15 Jan 2020 00:00:00 +0530 Wed, 09 Mar 2022 08:27:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301027 The Tribunal rejected the petition for initiation of Corporate Insolvency Resolution Process under section 9 of the Insolvency Bankruptcy Code. It held that the claim for interest by the Operational Creditor was disputed and should be resolved through a civil court, as the principal amount had been paid by the Corporate Debtor. The Tribunal found that the interest claim alone did not qualify as an operational debt under the Code, leading to the dismissal of the petition without any costs awarded. Case-Laws Insolvency and Bankruptcy Wed, 15 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301027