If there is no agreement or correspondence between the parties with respect to the interest component under the MSMED Act, 2006, the interest cannot be added to reach the Rs. 1 crore threshold limit under IBC – Lakshya Infrapromoters Pvt. Ltd. Vs. The Indure Pvt. Ltd. – NCLT New Delhi Bench
Hon’ble NCLT New Delhi Bench referred the judgment in Anant Gupta vs. Nilesh Vasantrao Bhorkar (2024) ibclaw.in 71 NCLAT and held that if there is no agreement or correspondence between the parties with respect to the interest component under the MSMED Act, 2006, the interest cannot be added to reach the Rs. 1 crore threshold limit under IBC.