No Interest Can be Claimed In Insolvency Petition Without Prior Intimation to Corporate Debtor: NCLT

The NCLT observed that no interest can be claimed in the petition when it has not been agreed upon in an agreement.

By Yogitha S. Yogesh - On October 11, 2024 4:13 pm - 2 mins read

No Interest - Claimed In Insolvency Petition - Prior Intimation to Corporate Debtor - NCLT - TAXSCAN

The Bengaluru bench of the National Company Law Tribunal (NCLT),while dismissing a petition under section 9 of the Insolvency and Bankruptcy Code (IBC), 2016 held that no interest can be claimed in insolvency petition without prior intimation to corporate debtor. The petition was filed by Janus GBAC Ltd., operational creditor against Beloorbayir Biotech Ltd., corporate…

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