NCLT Starts CIRP Against Media Firm After NeSL Confirms ₹2.52 Cr Default

NCLT Initiates CIRP Against Media Company Based on NeSL-Verified Default

The National Company Law Tribunal (NCLT) has admitted an insolvency application filed by SIDBI against a media company, triggering the Corporate Insolvency Resolution Process (CIRP). The default of ₹2.52 crore was established through records from the National E-Governance Services Limited (NeSL), which were deemed authentic under Section 45 of the Special Court (Special Provisions) Act, 1998, and judicially recognised under the Insolvency and Bankruptcy Code (IBC), 2016.

The tribunal placed strong reliance on the information memorandum generated by NeSL, an information utility approved under IBC, noting that such data is admissible and carries evidentiary value in determining the existence of financial debt. The NCLT held that NeSL’s record, once authenticated, serves as conclusive proof of default unless rebutted with concrete contrary evidence, which the corporate debtor failed to provide.

For practitioners, this decision reinforces the evidentiary weight of NeSL submissions in IBC proceedings. Lenders are now better equipped to initiate insolvency actions with digital evidence, reducing documentation burden and expediting admission under Section 7 of the IBC. The case also underscores the importance of maintaining accurate records with information utilities.