https://www.taxtmi.com/caselaws?id=460187 The court dismissed the appeal, concluding that the Operational Creditor was not entitled to claim interest at 24% per annum due to the absence of an agreement or acceptance by the Corporate Debtor. The court upheld the Adjudicating Authority's decision to reject the Section 9 application under the Insolvency and Bankruptcy Code, as the Principal Amount had already been paid, leaving no outstanding operational debt. The court emphasized that claims for interest require an express agreement, which was not present in this case. en-us Mon, 04 Nov 2024 00:00:00 +0530 Tue, 14 Jan 2025 19:59:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460187 The court dismissed the appeal, concluding that the Operational Creditor was not entitled to claim interest at 24% per annum due to the absence of an agreement or acceptance by the Corporate Debtor. The court upheld the Adjudicating Authority's decision to reject the Section 9 application under the Insolvency and Bankruptcy Code, as the Principal Amount had already been paid, leaving no outstanding operational debt. The court emphasized that claims for interest require an express agreement, which was not present in this case. Case-Laws IBC Mon, 04 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460187