https://www.taxtmi.com/caselaws?id=764729 NCLAT Principal Bench dismissed the Section 9 petition appeal. The debt claim fell below the Rs 1 crore threshold as interest component lacked contractual basis and could not be included in operational debt under Section 5(21) IBC. Claims within Section 10A period were properly excluded. The pre-existing commercial suit filed before the demand notice established a dispute, barring the insolvency application under Section 8. The petition was not maintainable on multiple grounds including insufficient debt amount, disputed interest claims, statutory exclusions, and pending litigation between parties. en-us Mon, 13 Jan 2025 00:00:00 +0530 Thu, 16 Jan 2025 09:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764729 NCLAT Principal Bench dismissed the Section 9 petition appeal. The debt claim fell below the Rs 1 crore threshold as interest component lacked contractual basis and could not be included in operational debt under Section 5(21) IBC. Claims within Section 10A period were properly excluded. The pre-existing commercial suit filed before the demand notice established a dispute, barring the insolvency application under Section 8. The petition was not maintainable on multiple grounds including insufficient debt amount, disputed interest claims, statutory exclusions, and pending litigation between parties. Case-Laws IBC Mon, 13 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764729