For calculating the amount for threshold purpose u/s 4 of IBC, both principal amount and interest has to be calculated when the interest is stipulated between the parties – Mr. Anuj Sharma Vs. Rustagi Projects Pvt. Ltd – NCLAT New Delhi
July 10, 2023
NCLAT held that Learned counsel for the Operational Creditor has rightly relied on judgment in Mr. Prashat Agarwal Vs. Vikash Parasrampuria (2022) ibclaw.in 509 NCLAT, where three Member Bench of this Tribunal held that the total amount for maintainability of claim will include both principal debt amount as well as interest on delayed payment which is stipulated in the invoice has to be added. The above judgment of “Prashant Agarwal” clearly supports the submission of learned counsel for the Respondent that for calculating the amount for maintainability of the claim, for threshold purpose, both Principal Amount and Interest has to be calculated when the interest is stipulated between the parties.