New RBI Grade B Notification Coming Soon... Prepare with Us!! Click here to enroll

    Register

    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

    IBC  Explanation: 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).

    Practice Next
    ×
    ×