https://www.taxtmi.com/article/detailed?id=10435 Initiation of corporate insolvency proceedings requires an existing payable debt and a default; interest is an incident to an underlying financial debt and cannot, once the principal has been discharged, by itself trigger the corporate insolvency resolution process. Unilateral invoices claiming interest without an agreement or outstanding principal do not establish a continuing debt or default sufficient for initiation. en-us Fri, 03 Jun 2022 13:13:16 +0530 Fri, 03 Jun 2022 13:13:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10435 Initiation of corporate insolvency proceedings requires an existing payable debt and a default; interest is an incident to an underlying financial debt and cannot, once the principal has been discharged, by itself trigger the corporate insolvency resolution process. Unilateral invoices claiming interest without an agreement or outstanding principal do not establish a continuing debt or default sufficient for initiation. Articles Corporate Laws / IBC / SEBI Fri, 03 Jun 2022 13:13:16 +0530 https://www.taxtmi.com/article/detailed?id=10435