TaxTMI 
TaxTMI 
Would like to know as what is the normal procedure to admit the CP in NCLT Court, is the petition is admitted at the time of filling the company petition or once the tribunal/Hon Judge allows to admit??? Can anyone guide us on this matter/issue and also when the advertisement in the local newspaper can be given by the operational creditors on operational debtors under sec 9 of IBC??
Admission of CP in NCLT Court
11 Aug 2018 
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Admission of Section 9 applications hinges on procedural completeness and absence of recorded dispute before the tribunal.
An operational creditor must issue a demand notice and, if the corporate debtor does not pay or validly dispute, may file an application in the prescribed form supported by the invoice or demand notice, an affidavit of absence of dispute, banking confirmation of nonpayment, and other required information; the Adjudicating Authority will decide within the statutory decision period whether to admit the application by checking completeness, nonpayment, delivery of the invoice or notice, absence of dispute in records or information utility, and absence of disciplinary proceedings against any proposed resolution professional. (AI Summary)
An operational creditor must issue a demand notice and, if the corporate debtor does not pay or validly dispute, may file an application in the prescribed form supported by the invoice or demand notice, an affidavit of absence of dispute, banking confirmation of nonpayment, and other required information; the Adjudicating Authority will decide within the statutory decision period whether to admit the application by checking completeness, nonpayment, delivery of the invoice or notice, absence of dispute in records or information utility, and absence of disciplinary proceedings against any proposed resolution professional. (AI Summary)