Under Section 12 of the IBC, 2016, the Adjudicating Authority shall, as a rule, ADMIT or REJECT an application for the commencement of the CIRP within ___ days of its receipt:

Section 7(4), 9(5) and related provisions require the Adjudicating Authority (NCLT) to either ADMIT or REJECT an application to commence the CIRP within FOURTEEN days of receiving it, after verifying that a default has occurred (in the case of a financial creditor, from the record of default or evidence). Where the application is complete and a default is established, the CIRP commences. The 14-day admission/rejection window is intended to inject urgency into the process at the very start. This timeline is a signature numerical point of the Code's speed-oriented design.