Amit Rajput, the Appellant, filed an appeal against the admission of a Section 7 Petition. He offered to pay Rs.3.5Crores by RTGS on 08.07.2022, along with 13% p.a. interest, which was accepted by the Respondent, Reckon Industries Limited. The Tribunal noted that if the payment was made by 08.07.2022, no further action would be taken. The Appellant paid Rs.3.5Crores and Rs.1.05Crores as interest, calculated from the date the Petition was filed. The Respondent contended that interest should be calculated from the date of disbursement. The Tribunal, considering the payments and the nature of IBC, closed the Section 7 Application. The key facts are the payment offers, acceptance, actual payments, and the dispute over the interest calculation period.

Amit Rajput, the Appellant, filed an appeal against the admission of a Section 7 Petition. He offered to pay Rs.3.5Crores by RTGS on 08.07.2022, along with 13% p.a. interest, which was accepted by the Respondent, Reckon Industries Limited. The Tribunal noted that if the payment was made by 08.07.2022, no further action would be taken. The Appellant paid Rs.3.5Crores and Rs.1.05Crores as interest, calculated from the date the Petition was filed. The Respondent contended that interest should be calculated from the date of disbursement. The Tribunal, considering the payments and the nature of IBC, closed the Section 7 Application. The key facts are the payment offers, acceptance, actual payments, and the dispute over the interest calculation period.