Supreme Court · 2017 INSC 957 · Decided 19 September 2017
M/S. Surendra Trading Company v. M/S. Juggilal Kamlapat Jute Mills Company Limited AND. Others
- Court
- Supreme Court of India
- Citation
- 2017 INSC 957 · [2017] 9 S.C.R. 743
- Case number
- CIVIL APPEAL No. 8400/2017
- Decided
- 19 September 2017
- Bench
- A.K. SIKRI, ASHOK BHUSHAN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- IBC Section 9
Headnote
Insolvency and Bankruptcy Code, 2016: A B c s.9(5) proviso thereto - Time limit of seven days in rectifYing ''the defects in the application for initiation of co1porate insolvency . resolution process, whether mandatory or direct01y - Held: Provision for within seven days is directory and not mandatory in nature - However, if the defects are not removed within seven days, the applicant, while refiling the D application after removing the defects, is required to file an application explaining sufficient case as to why the defects could not be
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)