A dispute about the term of settlement agreement as far as calculation of interest amount is cannot be resolved before NCLT – Permali Wallace Pvt. Ltd. Vs. Narbada Forest Industries Pvt. Ltd. – NCLT Indore Bench
NCLT held that there appears to be a dispute about the term of settlement agreement as far as calculation of interest amount is concerned. It cannot be resolved before this Adjudicating Authority. Most of the invoices do not mention the condition that the Corporate Debtor has to pay the interest at the rate of 18% per annum on delayed payment. So there is also a dispute about this fact. For all above reasons, this application under Section 9 of the IBC, 2016 appears to be filed for recovery of disputed interest amount and not for Resolution of any Insolvency of the Corporate Debtor and, therefore, not maintainable before this Adjudicating Authority
