Interest Claims Must Be Based On Contractual Agreement, Not Just Invoice Terms: NCLT Kolkata
Tazeen Ahmed
3 Sept 2024 2:13 PM IST
The NCLT Kolkata Divison Bench, comprising Bidisha Banerjee, Member (Judicial) and D. Arvind, Member (Technical) has held that interest cannot be clubbed along with the debt in the absence of an agreement or clause in the purchase order. The Tribunal further observed that TDS deduction on the interest payable is not an acknowledgement of liability. Brief Facts: Sudarshan Paper...
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