Initiation of corporate insolvency resolution process by corporate applicant.

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....insolvency resolution process with the Adjudicating Authority. (2) The application under sub-section (1) shall be filed in such form, containing such particulars and in such manner and accompanied with such fee as may be prescribed. 1[(3) The corporate applicant shall, along with the application, furnish- (a) the information relating to its books of account and such other documents for such pe....

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....Provided that Adjudicating Authority shall, before rejecting an application, give a notice to the applicant to rectify the defects in his application within seven days from the date of receipt of such notice from the Adjudicating Authority. (5) The corporate insolvency resolution process shall commence from the date of admission of the application under sub-section (4) of this section. ******* ....