Initiation of CIRP - claim of interest on delayed payment - It ...

CIRP cannot be initiated based solely on an invoice for delayed payment interest; court trial required to determine entitlement.

May 18, 2021

Case Laws Insolvency and Bankruptcy Tri

Initiation of CIRP - claim of interest on delayed payment - It cannot be concluded that based on the copy of invoice that applicant is entitled for the interest at the rate of 24% per annum since it is the subject matter of the City Civil Court to adduce evidence and detailed trial is required to conclude whether any interest is due and payable by the Corporate Debtor to the Operational Creditor, under invoice. - Tri

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Initiation of CIRP - claim of interest on delayed payment - It ...

CIRP cannot be initiated based solely on an invoice for delayed payment interest; court trial required to determine entitlement.

May 18, 2021

Case Laws Insolvency and Bankruptcy Tri

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