Threshold limit includes both principal debt and interest under IBC

Prashat Agarwal Vs Vikash Parasrampuria (NCLAT Mumbai)

Held that minimum threshold limit of INR 1 Crore for maintainability of application for CIRP proceedings u/s 9 of IBC includes both principal debt as well as interest on delayed payment.

Facts-

The Operational Creditor is supplier of different types of yarns and has supplied goods to Bombay Rayons Fashions Ltd. (Corporate Debtor). Operation Creditor raised nine invoices between March

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