4.2.The Applicant has submitted that such falsity was exposed while the Chartered Accountant Shri. Raghunath representing the Financial Creditor in the proceeding in CP/IB/No.664/MB/2020 on 16.07.2021, submitted that he offered no answer when this Bench asked him to clarify whether the Financial Creditor is a bank. On perusal of the application under Section 7 of Insolvency & Bankruptcy Code, 2016 (IBC) this Bench notices that in Sr. No. 3, Part-I of Form-1, the Financial Creditor has stated that Samta Nagari Sahkari Patsanstha Maryadit, Kopargaon, is a Co-operative Society registered under the Maharashtra Co-Op. Societies Act, 1960 (Rule No.24 of the Maharashtra Societies Rules 1961 Section 9(1) dated 20.03.1986 and has referred itself as a Financial Creditor in the said application. This fact is borne from the certificate of registration issued by Assistant Registrar Co-Operative Societies, Kopargaon, which is enclosed with the said application u/s 7 IBC. The Applicant’s contention that the Financial Creditor’s webpage reads “ Banking Anywhere Anytime With Security ” suggest that Financial Creditor claims as a bank, cannot be a ground for initiation of proceeding U/s.340 Cr.PC, because the Financial Creditor case is not based upon such statement on its webpage. Even if there is any violation in this respect, as suggested in the application, such violation has to be dealt with by the RBI who is regulator for the banking and non-banking business. Accordingly, this Bench finds no falsity in this relation.
