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CS Professional · Corporate Restructuring, Valuation and Insolvency · Application for Corporate Insolvency Resolution Process

Gupta Components Ltd filed a Section 9 application. The Adjudicating Authority found the application complete, notice delivered, no dispute, and no payment. Within how many days of receipt of the application must it pass an order admitting or rejecting it?

Fourteen days. Section 9(5) requires the Adjudicating Authority to admit or reject the operational creditor's application by order within fourteen days of receipt. Seven days relates to rectifying defects and ten days to the waiting period after the demand notice.

  1. ASeven days
  2. BTen days
  3. CFourteen daysCorrect
  4. DThirty days

Explanation

Section 9(5) requires the Adjudicating Authority to pass an order admitting or rejecting the application within fourteen days of its receipt. Seven days is the period for rectifying defects, and ten days is the waiting period after the demand notice.

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