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2020 (1) TMI 1559 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor unable to liquidate its outstanding dues - Operational Creditors - existence of debt and dispute or not - HELD THAT:- This Bench is satisfied that as the principal amount has already been paid by the Corporate Debtor, the claim of the petitioner for ₹ 71,18,908.04 as interest is unconscionable, irrational, unjustified and in the opinion of this Bench does not qualify as a operational claim, default of which would entitle the petitioner to seek resolution of the Corporate Debtor. The claim for interest on the delayed payment is a disputed fact by the Corporate Debtor and as such can only be adjudicated by a court of competent jurisdiction. Initiation of Corporate Insolvency Resolution Process is certainly not an answer in the facts and circumstances of the case. Recovery of interest alone can be initiated before a civil court for its due adjudication. Petition dismissed.
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