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2020 (2) TMI 1621 - AT - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - HELD THAT:- The Adjudicating Authority concluded that in the factual document, there was existence of real dispute which could not be overruled and was of the view that there was substance and plausible contention in pleadings of both sides which require investigation. The Impugned Order shows that with the limited jurisdiction to examine the claim and defence, the Adjudicating Authority concluded that there was dispute as defined in Section 5(6) of the Code and rejected the Application. On going through the claims being made by the Appellant and claims being made by the Respondents and it appears also that the averments and counter averments required trial which is not possible in the jurisdiction of Section 9 of IBC. Whether or not similar stamp of the Company was being used by the Appellant, which is seen in the debit notes, would be matter of evidence. There has to be prima facie material to doubt a document as forged or fabricated if the same is to be ignored. It is stated that after the Impugned Order was passed, with observations as seen above in para – 33 of the Impugned Order, subsequently, the Appellant has filed FIR. It would naturally take its own course. The Impugned Order need not be interfered. Considering the limited sphere in which Adjudicating Authority and this Tribunal operate, when we sit down to consider the admitting or otherwise of an Application under Section 7, 9 or 10 of IBC, if we admit or reject the Application on the basis of a document put on record by the opposite side, the aggrieved party has option to move appropriate civil and/or criminal forums and in case it is established in any appropriate proceeding that the document was falsified, forged or fabricated, it will be, inter alia, open for the aggrieved party to move for action under Part II Chapter VII of IBC which deals with Offences and Penalties. Appeal disposed off.
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