Expedited admission-stage review for Section 7 insolvency applications, with priority to be given within 15 days.

A Section 7 application at the admission stage should be considered expeditiously, as the statutory timeline under the Code was treated as directory rather than mandatory, but still reflective of the scheme and timelines of insolvency resolution. The Adjudicating Authority was directed to accord priority and make all endeavours to pass the admission-stage order within 15 days.

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Issues: Whether the Adjudicating Authority should be directed to decide the Section 7 application at the admission stage within a fixed time.

Analysis: The proceedings were found to be at the threshold stage, and the statutory timeline, though not treated as mandatory, was held to require expeditious consideration in keeping with the scheme and timelines of the Code.

Conclusion: The appeal was disposed of with a direction to accord priority and make all endeavours to pass the admission-stage order within 15 days.

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