https://www.taxtmi.com/caselaws?id=460185 At the pre-admission stage of a Section 7 IBC application, the Adjudicating Authority is required to decide admission or rejection within the Code's time-bound, summary framework, focusing on financial debt, default and completeness of the application. Where a corporate debtor has already been given time to file a reply but remains in default for a substantial period, it cannot claim a further adjournment as of right. The refusal to grant another opportunity to file a reply was therefore not interfered with, and the challenge to the impugned order failed. en-us Mon, 01 Feb 2021 00:00:00 +0530 Tue, 14 Jan 2025 19:59:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460185 At the pre-admission stage of a Section 7 IBC application, the Adjudicating Authority is required to decide admission or rejection within the Code's time-bound, summary framework, focusing on financial debt, default and completeness of the application. Where a corporate debtor has already been given time to file a reply but remains in default for a substantial period, it cannot claim a further adjournment as of right. The refusal to grant another opportunity to file a reply was therefore not interfered with, and the challenge to the impugned order failed. Case-Laws IBC Mon, 01 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460185