Section 7 IBC application was withdrawn as the matter was settled amicably out of NCLT after 2 years of pendency. The principal due amount alongwith interest, being the claim amount as mentioned in section 7 IBC application, has been paid iin full.
Can the party file a Civil/Money/Summary/Commercial Suit for recovery of the interest accrued on the claimed amount during the pendency of Section 7 IBC application?
Dr J C Vashista (Advocate) 14 July 2021
If a suit for recovery of interest on the amount settled in NCLT has been paid it would not be maintainable and attract/ operate principle of "res judicata"
P. Venu (Advocate) 15 August 2021
In my view, the doctrine of waiver could as well apply
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