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    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).

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