CIRP can't be triggered solely on basis of unpaid interest when principal debt has been discharged: NCLT
NCLT Delhi dismissing a petition for initiation of CIRP held that pending interest amount does not amount to “debt” for initiation of CIRP when the principal amount is paid by the debtor.
Kanodia Technoplast Ltd National Company Law Appellate Tribunal Justice Abni Ranjan Kumar Sinha Technoplast Ltd Saraf Chits Ln Gupta
Source: barandbench.com