Recording reasons duty: adjudicating authority must explain delay in determining default and issuing insolvency order. The proviso to section 7(4) mandates that the Adjudicating Authority, if it has not ascertained the existence of default and passed an order under ... Summary
Recording reasons duty: adjudicating authority must explain delay in determining default and issuing insolvency order.
The proviso to section 7(4) mandates that the Adjudicating Authority, if it has not ascertained the existence of default and passed an order under sub-section (5) within such time, shall record its reasons in writing for the same.
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