Under Section 8 of the Insolvency and Bankruptcy Code, 2016, an operational creditor may deliver a demand notice to the corporate debtor in respect of an unpaid operational debt. On receiving such notice, the corporate debtor must point out the existence of a dispute, or repay the debt, within -

Section 8(2) of the Insolvency and Bankruptcy Code, 2016 requires the corporate debtor, within ten days of receipt of the demand notice or copy of the invoice, to bring to the notice of the operational creditor the existence of a dispute, or the record of the pendency of a suit or arbitration proceeding, or to repay the unpaid operational debt. If the debtor neither replies nor pays within that window, the operational creditor may file a petition to initiate the corporate insolvency resolution process under Section 9. The Code prescribes no comparable seven-day, fifteen-day, thirty-day or sixty-day period for the debtor's response to a demand notice. The ten-day deadline fixed by Section 8 therefore makes the second option correct.