Interest cannot be raised unilaterally in the Insolvency petition under Section 9 of IBC, without prior intimation to the Corporate Debtor – Janus GBAC Ltd. Vs. Beloorbayir Biotech Ltd. – NCLT Bengaluru Bench

Hon’ble NCLT Bengaluru Bench held that for any creditor to claim the interest in the default amount the same should be reflected in either the agreement or the invoices raised against the Corporate Debtor. The interest cannot be raised unilaterally in the Insolvency petition, without prior intimation to the Corporate Debtor.

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