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2019 (7) TMI 776 - AT - Insolvency and BankruptcyInitiation of Corporate Insolvency Resolution Process - Section 10 of the I&B Code - cost of payment of fees in relation to the Authorised Representatives appointed, as well as to defray the costs of ‘Resolution Professional’ - who is liable to pay - HELD THAT:- There have been ‘default’ against the purchasers of the Plans, who otherwise do not come within the meaning of ‘Financial Creditors’ or ‘Operational Creditors’. However, the Adjudicating Authority having seen some discrepancies raised doubt about the genuineness of the ‘Corporate Debtor’ and the application as has been filed. The ‘Resolution Professional’ also claims that financial irregularities have also been committed by the ‘Corporate Debtor’. The order regarding expenses of ‘Resolution Professional’ was not required to be determined at this stage, we are also of the view that considering the record, the Adjudicating Authority should also seen whether the application under Section 10 of the I&B Code was filed with fraudulently or with malicious intention for any purpose other than for the resolution of the insolvency or liquidation as defined under Section 65 of the I&B Code and if so necessary, it may request the Central Government for reference to the SFIO under Sections 212 and 213 of the Companies Act, 2013 and other provisions of the Insolvency & Bankruptcy Code including Part II Chapter VII wherein ‘Offences and Penalties’ has been prescribed. Appeal disposed off.
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