https://www.taxtmi.com/caselaws?id=343983 The Tribunal held that the time limits in the Insolvency and Bankruptcy Code, 2016 are directory, not mandatory. It ruled that the Adjudicating Authority has the inherent jurisdiction to pass ad interim orders. The petition under Section 9 was rejected as time-barred, and the failure to rectify defects in the Demand notice within the prescribed 7-day period rendered the application invalid. The Tribunal directed rejection of the petition and declared post-judgment orders, except dismissal orders, as illegal. The appeal was allowed without costs. en-us Mon, 01 May 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343983 The Tribunal held that the time limits in the Insolvency and Bankruptcy Code, 2016 are directory, not mandatory. It ruled that the Adjudicating Authority has the inherent jurisdiction to pass ad interim orders. The petition under Section 9 was rejected as time-barred, and the failure to rectify defects in the Demand notice within the prescribed 7-day period rendered the application invalid. The Tribunal directed rejection of the petition and declared post-judgment orders, except dismissal orders, as illegal. The appeal was allowed without costs. Case-Laws Insolvency and Bankruptcy Mon, 01 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343983