NCLAT dismisses insolvency plea against PepsiCo; says IBC can’t be invoked only for repayment of interest
The NCLAT held that SNJ’s insolvency petition under Section 9 (concerning operational debts) of the Insolvency and Bankruptcy Code, 2016 (IBC) was not maintainable since the principal amount of the debt claimed from PepsiCo had already been repaid and only a disputed claim for interest remained. A three-member Bench of Justice Ashok Bhushan (Chairperson), and…