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2018 (2) TMI 1849 - Tri - Insolvency and BankruptcyOperational Debt - petition filed by Operational Creditor under I&B Code by invoking the provisions of section 9 - whether on receiving the principal operational debt amount during the pendency of the Petition before NCLT, the Petitioner can press for the admission of the Petition only in respect of the Interest amount alleged to be outstanding, firstly without revising the claim of Outstanding Debt and secondly when the eligibility of Interest claim is challenged by the Operational Debtor? Held that:- The charging of Interest on an outstanding Debt ought to be an Actionable Claim so that admissible under the eyes of Law. Claim of Interest is therefore within the ambits of an Actionable Claim which is enforceable under Law - As far as the question of present controversy related to charging of Interest is concerned, the same is enforceable if it is properly documented and agreed upon. It is also necessary that the rate of Interest should also be agreed upon between the Parties. In the present case, these basic requirements appear to be missing. Rather, the Petitioner had not established to the hilt the eligibility of claim of Interest. Merely a filing of a calculation sheet, that too a computer generated statement, is in our humble opinion, a self-serving document and not a cogent evidence admissible under the Law. The absence of a written instrument acknowledging the Liability of Interest payment as also acknowledging the Liability of the rate at which Interest was to be charged, definitely affect adversely the Claim of the Petitioner. When the Principal amount of Debt had admittedly been paid and duly accepted by the Petitioner and the claim of Interest remained unsubstantiated in the absence of cogent evidence, the "Operational Debt" in question remained unascertainable - Petition dismissed.
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