The “interest” can be claimed as the Financial Debt, but neither there is any provision nor there is any scope to include the interest to constitute as the Operational Debt or part of it – M/s. Ingram Micro India Pvt. Ltd. Vs. M/s. Fbonline Trading Pvt. Ltd. – NCLT New Delhi Bench Court-VI
The Adjudicating Authority held that the Interest amount cannot be clubbed with the Principal amount of debt to arrive at the minimum threshold of Rs. 1 Crore for complying with the provision of Section 4 of IBC, 2016. The actual debt in the present matter is Rs. 78,62, 126.00/- which is below the threshold limit of Rs. 1 Crore of debt.
