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Judgment
Mr. P. Arnab Ghosh a/w Christabelle MK, Ld. Counsel for the Operational Creditor present (VC). Mr. Dhruva Gandhi a/w Mr. Rajendra Bothre i/b Crawford Bayley & Co., Ld. Counsel for the Corporate Debtor present.
This is a Petition filed under Section 9 of the Code by the Operational Creditor seeking initiation of CIRP of the Corporate Debtor.
In this Petition, in Part-IV, the principal claim amount is mentioned as Rs.1,03,73,000/- As per the Demand Notice, the principal amount shows Rs.93,72,934/-. The supporting invoices are totalling to Rs.82,21,528/- as indicated in the table at page 69A of the Petition. The Petitioner has accounted for interest @18%. However, this Bench notes that there is no interest clause in the invoices and there is no agreement between the Operational Creditor and the Corporate Debtor for payment of the interest. Therefore, the claim of the Operational Creditor is below threshold limit. Hence, CP is dismissed.