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2019 (11) TMI 1410 - AT - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - application rejected on the ground that the Appellant has failed to show the default of any ‘financial debt’ and that the Adjudicating Authority cannot go into the aspect of fraud which is within the purview of the Criminal Courts - HELD THAT:- The Adjudicating Authority came to the conclusion that the default as alleged cannot be determined in absence of any requisite document. The Adjudicating Authority also held that the fraud is the question which cannot be decided by the Adjudicating Authority and can be decided only by the Court of Criminal jurisdiction. Taking into consideration the imposition of the cost, the impugned order dated 20th September, 2019 is set aside so far it relates to the imposition of the cost of Rupees One Lakh - appeal disposed off.
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