https://www.taxtmi.com/caselaws?id=276038 The National Company Law Appellate Tribunal set aside the order rejecting M/s SAK Industries Pvt Ltd's application under Section 9 of the Insolvency and Bankruptcy Code, 2016 due to defects not rectified within 7 days. The Tribunal referenced a Supreme Court judgment stating the mandatory nature of rectifying defects within 7 days is not applicable. The case was remitted back to the Adjudicating Authority for reconsideration, allowing the appellant to rectify any defects if found, with no costs awarded. en-us Wed, 15 Nov 2017 00:00:00 +0530 Fri, 26 Oct 2018 06:01:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276038 The National Company Law Appellate Tribunal set aside the order rejecting M/s SAK Industries Pvt Ltd's application under Section 9 of the Insolvency and Bankruptcy Code, 2016 due to defects not rectified within 7 days. The Tribunal referenced a Supreme Court judgment stating the mandatory nature of rectifying defects within 7 days is not applicable. The case was remitted back to the Adjudicating Authority for reconsideration, allowing the appellant to rectify any defects if found, with no costs awarded. Case-Laws Insolvency and Bankruptcy Wed, 15 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276038