In absence of any contract/agreement for payment of interest between the Operational Creditor and Corporate Debtor, interest amount cannot be added to only to cross the threshold limit – Khatunaresh Impex Pvt. Ltd. Vs. Jindal (India) Ltd. – NCLT Kolkata Bench
This petition has been filed where the principal amount in default is claimed to be 90,60,102/-. 15% interest has been claimed over the principal amount. Reliance has been placed on two letters written by Operational Creditor to the Corporate Debtor claiming interest. It is stated since the Corporate Debtor did not dispute, therefore, the presumption is that he accepted this rate of interest and therefore, this the amount of default is over One Crore.
