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of <h1>Authority Must Decide on Insolvency Application Within 14 Days Under Sections 94 or 95 of Insolvency and Bankruptcy Code</h1> The Adjudicating Authority must decide within fourteen days to admit or reject an application under sections 94 or 95 of the Insolvency and Bankruptcy Code, 2016, based on a report from section 99. If admitted, it may instruct negotiations between the debtor and creditors for a repayment plan. A copy of the order and the resolution professional's report must be provided to creditors within seven days. If rejected due to fraudulent intent, the order will state that the creditor can file for a bankruptcy order under Chapter IV. This provision became effective on December 1, 2019.
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