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2022 (2) TMI 251 - Tri - Insolvency and BankruptcyExaggeration of claim by suitably manipulating their records - wrongful gains - imposing heavy costs on the Respondent No. 1/Operational Creditor with an amount, at least equal to the value of the CIRP Costs - HELD THAT:- As per the audited account as on 31st March, 2019 the dues payable to the Respondent No. 1 (Operational Creditor) is ₹ 91,05,994/- and this fact was admitted by the applicant stating that the audited accounts have been finalized even before the admission of the Corporate Debtor under CIRP. This Tribunal also while admitting the aforesaid Application relied on the Audited Accounts and based on the same it was held that the amount payable to Respondent No. 1 (Operational Creditor) is more than the threshold limit of one lakh rupees. The amount of ₹ 91,05,994/- was noted at that point of time, and admitted the Corporate Debtor for CIRP. The RP, has not admitted any amount claimed to be apportioned by the 1st Respondent against the dues of a foreign entity i.e., Matheel Al-Nujoom Group of Industries wherein the applicant Mr. Shameel E.P is a Common Director, since the amount has been remitted by the Corporate Debtor against import through proper banking channel in compliance with the RBI Regulations. The Corporate Debtor has not raised any of the points raised in this application, as the applicant was silent waiving the Corporate Debtor right to file an appeal, if the Corporate Debtor was really aggrieved by the aforesaid admission of the matter - application dismissed.
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