NCLT Kolkata (07.12.2022) in Khatunaresh Impex Private Limited Vs Jindal (India) Limited [C.P. (IB)/291(KB)2022] held that in absence of any contract interest on operational debt cannot be added for the purpose of threshold limit under section 4;
# 4 . . . . . We are not satisfied that there was any contract or agreement in any manner for payment of interest at the rate 15% or at any rate between the Operational Creditor and Corporate Debtor.
# 5. It looks that this amount has been claimed only make it to cross the threshold limit. This is not a recovery forum. Such kind of petition are purely wastage of time.
Excerpts of the order;.
# 1. Ld. Counsel for the parties present.
# 2. This petition has been filed where the principal amount in default is claimed to be 90,60,102/-. Admittedly this amount is below the threshold limit. 15% interest has been claimed over the principal amount. Reliance has been placed on two letters written by Operational Creditor to the Corporate Debtor claiming interest.
# 3. It is stated since the Corporate Debtor did not dispute, therefore, the presumption is that he accepted this rate of interest and therefore, this the amount of default is over One Crore.
# 4. It is further stated though not pleaded anywhere there was any verbal assurance given by Corporate Debtor to pay interest @ 15%. We are not satisfied that there was any contract or agreement in any manner for payment of interest at the rate 15% or at any rate between the Operational Creditor and Corporate Debtor.
# 5. It looks that this amount has been claimed only make it to cross the threshold limit. This is not a recovery forum. Such kind of petition are purely wastage of time
# 6. We deem it proper that this petition is liable to be rejected at this stage. This petition is, therefore, rejected as not maintainable.
------------------------------------------------
No comments:
Post a Comment