NCLT admitted SIDBI’s insolvency application against a media company, relying on National E-Governance Services Ltd (NeSL) record as deemed authenticated proof of ₹2.52 crore financial debt.
NCLT Initiates CIRP Against Media Firm Based on NeSL-Verified ₹2.52 Cr Default
The National Company Law Tribunal (NCLT) has admitted an insolvency petition filed by SIDBI against a media company, initiating the Corporate Insolvency Resolution Process (CIRP) after finding a default of ₹2.52 crore. The debt was established through a record issued by National E-Governance Services Ltd (NeSL), which the tribunal accepted as deemed authenticated under Section 5(9) of the IBC read with IBBI (Information Utilities) Regulations.
The adjudicating authority held that NeSL, as a registered information utility, provides legally admissible electronic records under Section 65B of the Indian Evidence Act, now corresponding to Section 63 of the Bharatiya Sakshya Adhiniyam (BSA), 2023. The record was treated as conclusive proof of the outstanding debt in the absence of any rebuttal evidence from the corporate debtor.
This order reinforces the evidentiary value of NeSL records in initiating insolvency proceedings. Legal practitioners should leverage authenticated data from information utilities to expedite admissions under IBC, particularly in uncontested debt scenarios.
Citations
- Insolvency and Bankruptcy Code, 2016, Section 5(9); Bharatiya Sakshya Adhiniyam, 2023, Section 63
