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2022 (5) TMI 874 - AT - Insolvency and BankruptcyAdmitting the petition - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - It is claimed that the transaction entered into between the parties is not covered under the definition of ‘financial debt’ under section 5(8) and any of the nine clauses of section 5(8) to be in the nature of financial debt - HELD THAT:- It is clear that in case the record of Information Utility shows that there is a debt which is in default, the Adjudicating Authority or the Appellate Authority are not required to further examine the record maintained by the Information Utility, moreso when the record of the Information Utility is deemed authenticated and no dispute or refutation of said record has been done by the corporate debtor earlier. It is also noted that in the judgment of RUSHABH CIVIL CONTRACTORS PVT. LTD. VERSUS CENTRIO LIFESPACES LTD. [2022 (1) TMI 461 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHI], which has been cited by the Learned Counsel for Appellant, the record that formed the basis for financial debt and default was found to be forged and fabricated, which is not the case in the present appeal. Therefore, this judgment does not come to the rescue of the Appellant. The Adjudicating Authority has not committed any error in admitting the section 7 application filed by the financial creditor M/s. Teco Industries - Appeal dismissed.
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