CIRP Initiated for Unpaid Interest u/s 7 of Insolvency and Bankruptcy Code, Principal Amount Not Yet Due.

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....Initiation of CIRP - financial debt - interest of three quarters which accrued and became payable as a debt - the application filed under Section 7 of the Code could be maintained in respect of the component of interest which became due and payable, without asking for the principal amount which has not yet become due and payable. - AT....