https://www.taxtmi.com/caselaws?id=303410 The Tribunal dismissed the application for Corporate Insolvency Resolution Process as the interest amount could not be combined with the principal to meet the Rs. 1 Crore threshold required by the Insolvency and Bankruptcy Code. Despite the argument that interest was part of the operational debt, the Tribunal held that interest cannot be considered operational debt under the IBC provisions. Additionally, the Tribunal clarified that the Rs. 1 Crore limit applied to applications filed post a specified date, regardless of the debt's origin date, leading to the conclusion that the application was not maintainable due to the principal amount being below the threshold and the application being filed in 2021. en-us Wed, 19 Jan 2022 00:00:00 +0530 Fri, 20 Feb 2026 17:21:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303410 The Tribunal dismissed the application for Corporate Insolvency Resolution Process as the interest amount could not be combined with the principal to meet the Rs. 1 Crore threshold required by the Insolvency and Bankruptcy Code. Despite the argument that interest was part of the operational debt, the Tribunal held that interest cannot be considered operational debt under the IBC provisions. Additionally, the Tribunal clarified that the Rs. 1 Crore limit applied to applications filed post a specified date, regardless of the debt's origin date, leading to the conclusion that the application was not maintainable due to the principal amount being below the threshold and the application being filed in 2021. Case-Laws Insolvency and Bankruptcy Wed, 19 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303410