https://www.taxtmi.com/caselaws?id=430529 The appeal was allowed by the Tribunal, setting aside the order of the Adjudicating Authority that dismissed the application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Tribunal held that an application can be filed and maintained in respect of the component of interest which became due and payable without requiring the principal amount to be due and payable. This decision aligns with the interpretation that interest can be considered part of the financial debt, allowing for the application under Section 7 to proceed. en-us Tue, 15 Nov 2022 00:00:00 +0530 Mon, 21 Nov 2022 15:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430529 The appeal was allowed by the Tribunal, setting aside the order of the Adjudicating Authority that dismissed the application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Tribunal held that an application can be filed and maintained in respect of the component of interest which became due and payable without requiring the principal amount to be due and payable. This decision aligns with the interpretation that interest can be considered part of the financial debt, allowing for the application under Section 7 to proceed. Case-Laws Insolvency and Bankruptcy Tue, 15 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430529