Claim against additional cost/interest imposed by Commercial Court during the moratorium period cannot be admitted in CIRP – SourcePro Service Vs. Mr. Vinay Mruthyunjaya RP Metrik Infraprojects Pvt. Ltd. – NCLT Bengaluru Bench

In this case, the insolvency proceedings against the Corporate Debtor was initiated on 16.04.2021. The Commercial Court passed the order on 22.04.2021, which is Post commencement of CIRP against the Corporate Debtor and the Court, in addition to the Principal amount of debt, has also directed the Corporate Debtor to pay interest, cost of the suit, execution cost and advocate fees.
NCLT Bengaluru Bench held that it is observed that these additional cost imposed by the Commercial Court is against the moratorium imposed by this Tribunal. Hence, it is concluded that the Resolution Professional has not erred in admitting the only Rs. 30,42,927/- which is the amount outstanding till the date of commencement of the CIRP.

Claim against additional cost/interest imposed by Commercial Court during the moratorium period cannot be admitted in CIRP – SourcePro Service Vs. Mr. Vinay Mruthyunjaya RP Metrik Infraprojects Pvt. Ltd. – NCLT Bengaluru Bench Read Post »