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Court Error in Ignoring Full Payment of Principal; Interest Alone Doesn't Justify CIRP u/s 9 of IBC.

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....Initiation of CIRP - Recovery of Interest - the Adjudicating Authority has erred in not looking into the facts that the principal amount has entirely been paid and the issue was only regarding to interest for which the application under Section 9 of the Code was not maintainable as the spirit of the legislation of the Code is for ‘resolution of debt’ and not for ‘recovery’. - AT....

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