Question

The application made for the initiation of the CIRP to the Adjudicating Authority should be accepted or rejected by the Authority within__________________

A Seven days Correct Answer Incorrect Answer
B Fourteen days Correct Answer Incorrect Answer
C Twenty-one days Correct Answer Incorrect Answer
D Thirty days Correct Answer Incorrect Answer
E Ninety days Correct Answer Incorrect Answer

Solution

The Adjudicating Authority shall, within fourteen days of the receipt of the application, ascertain the existence of a default from the records of an information utility or on the basis of other evidence furnished to it, (Refer to Section 7-10).

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