https://www.taxtmi.com/caselaws?id=768545 A Section 7 insolvency application is not barred by Section 10A where the principal repayment default fell within the suspension period but the creditor also relied on a later default in contractual interest accruing after that period. The financing documents provided for monthly and additional interest, capitalisation of unpaid interest, and continuing liability on the outstanding amount. The post-10A interest default was treated as an independent default meeting the statutory threshold, so the CIRP admission was upheld. en-us Fri, 04 Apr 2025 00:00:00 +0530 Wed, 09 Apr 2025 07:42:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768545 A Section 7 insolvency application is not barred by Section 10A where the principal repayment default fell within the suspension period but the creditor also relied on a later default in contractual interest accruing after that period. The financing documents provided for monthly and additional interest, capitalisation of unpaid interest, and continuing liability on the outstanding amount. The post-10A interest default was treated as an independent default meeting the statutory threshold, so the CIRP admission was upheld. Case-Laws IBC Fri, 04 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768545