A petition u/s 9 of the Code cannot lie merely for recovery of interest component – TCL Cables Pvt. Ltd. Vs. Shapoorji Pallonji & Company Pvt. Ltd. – NCLT Mumbai Bench
NCLT Mumbai Bench held that the Operational Creditor is claiming the amount of interest, which remains after payment of Principal outstanding amount on the basis of condition in the invoices issued by the Operational Creditor, however, it is not in dispute that there is no such stipulation in the Purchase Order accepted and acknowledged by the Operational Creditor prior to supply of goods thereunder. Dismissed the application filed u/s 9 of IBC.