# In the matter of Hindustan Construction Company Ltd. C.P.(IB)1654-MB-2019

> NCLT judgment dated 2022-12-07. Citation: TCN-2022-NCLT-00210. The case involves a petition where the entire principal amount has already been paid by the…

- **Court:** NCLT
- **Order date:** 7 Dec 2022
- **Citation:** TCN-2022-NCLT-00210
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/hindustan-construction-company-ltd-cpib1654-mb-2019-afdbc5d4

## Summary

### Background

The case involves a petition where the entire principal amount has already been paid by the Corporate Debtor to the Operational Creditor. The Operational Creditor requested the petition be heard for payment of interest. The Corporate Debtor's counsel cited a judgment from the NCLAT in M/s S.S. Polymers...vs...M/s Kanodia Technoplast Ltd, where it was observed that invoices alone are not sufficient to claim interest without the Corporate Debtor's consent.

## Facts

The Corporate Debtor paid the entire principal amount to the Operational Creditor. The Operational Creditor then sought to have the petition heard for payment of interest. The Corporate Debtor's counsel referred to a judgment by the NCLAT in the case of M/s S.S. Polymers...vs...M/s Kanodia Technoplast Ltd, which stated that invoices alone are not sufficient to claim interest without the Corporate Debtor's consent. The court noted that the arguing counsel for the Operational Creditor was not present and had repeatedly requested adjournments. The petition was filed to claim the interest amount.

## Issues and analysis

### Issue 1: Whether the Company Petition bearing CP (IB) No. 1654 of 2019, filed for claiming the interest …

**Ratio:** A claim for interest based solely on invoices, without the consent of the Corporate

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**Reasoning:** The court reasoned that since the principal amount had already been paid and the

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**Interpretation:** The NCLAT's judgment clarifies that a claim for interest cannot be solely based

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**Application:** In this case, the Operational Creditor's claim for interest was based solely on

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## Parties

- **Judges:** SH. SHYAM BABU…; P.N. Des…
- **Respondents:** PP Pandey…; Hindustan…

## Timeline

- **2022-12-07 — Order Shee…**: Order sheet of the…
- **2022-09-26 — Matter Listed…**: The matter was listed on Board, and…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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