Interest On Unilateral Invoices For Delayed Payment Doesn't Constitute Operational Debt In Absence Of Contractual Clause: NCLAT New Delhi

NCLAT ruled that unilateral interest charges on delayed payments, without any contractual agreement, don't constitute operational debt under the IBC. The decision prevents creditors from arbitrarily inflating claims and triggering insolvency proceedings based on self-determined liabilities. This judgment maintains the sanctity of contractual agreements in determining legitimate operational debts while curbing potential abuse of the insolvency process.