This appeal was filed against an impugned order dated 25.03.2026 by which a Section 9 application, initiated by the Appellant, was rejected. The rejection was based on the ground that an interest component could not be added to the principal amount, and consequently, the principal amount alone was less than the threshold required by Section 4 of the Insolvency and Bankruptcy Code (IBC).
An appeal was filed by Aggarwal Ply House against an order dated 25.03.2026 rejecting their Section 9 application.
The Section 9 application was rejected because the interest component could not be added, and the principal amount was below the threshold under Section 4 of the IBC.
The Appellant contended that invoices sent by the Operational Creditor (OC), which included a 24% interest rate, were counter-signed by the Corporate Debtor (CD).
The Appellant argued that the counter-signing by the CD indicated acceptance of the 24% interest, making the claim maintainable.
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The Adjudicating Authority issued an order…
Aggarwal Ply House filed an appeal against the…
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This appeal was filed against an impugned order dated 25.03.2026 by which a Section 9 application, initiated by the Appellant, was rejected. The rejection was based on the ground that an interest component could not be added to the principal amount, and consequently, the principal amount alone was less than the threshold required by Section 4 of the Insolvency and Bankruptcy Code (IBC).
An appeal was filed by Aggarwal Ply House against an order dated 25.03.2026 rejecting their Section 9 application.
The Section 9 application was rejected because the interest component could not be added, and the principal amount was below the threshold under Section 4 of the IBC.
The Appellant contended that invoices sent by the Operational Creditor (OC), which included a 24% interest rate, were counter-signed by the Corporate Debtor (CD).
The Appellant argued that the counter-signing by the CD indicated acceptance of the 24% interest, making the claim maintainable.
…The Adjudicating Authority issued an order…
Aggarwal Ply House filed an appeal against the…
Sign in to view related legal provisions.