Insolvency application can be filed for interest that becomes due without asking for principal amount: NCLAT

The National Company Law Appellate Tribunal (NCLAT) recently held that an application under Section 7 of the Insolvency Bankruptcy Code (IBC) is maintainable for the component of interest that has become due, without asking for the principal amount which has not yet become due [Base Realtors Private Limited v. Grand Realcon Private Limited].