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TMI Blog2017 (9) TMI 391X X X X Extracts X X X X X X X X Extracts X X X X ..... roviso to the aforesaid section made to remove the defects within seven days are mandatory and on failure to do so the application is fit to be rejected. However, the learned counsel for the petitioner submits that the Interim Insolvency Resolution Professional could not be named because of non-availability of the Chief Executive Officer of the petitioner Society for sometimes, but that cannot be the reason to grant extension in respect of the period of seven days, the same being mandatory in nature.In views of the above, the instant petition is rejecting. - CP NO. 170/2015 AND RT CP(IB) NO. 45/CHD./PB/2017 - - - Dated:- 4-8-2017 - MR. R.P. NAGRATH, J. For The Petitioner : Ankush Chowdhary and Dibasis Basu, Advs. ORDER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd abated: Provided further that any party or parties to the petitions shall, after the 15th day of July, 2017, he eligible to file fresh applications under sections 7 or 8 or 9 of the Code, as the case may be, in accordance with the provisions of the Code: Provided also that where a petition relating to winding up of a company is not transferred to the Tribunal under this rule and remains in the High Court and where there is another petition under clause (e) of section 433 of the Act for winding up against the same company pending as on 15th December, 2016, such other petition shall not be transferred to the Tribunal, even if the petition has not been served on the respondent 3. The petitioner has filed application in Form N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ave heard the learned counsel for the petitioner and perused the record. 7. As per sub-section (3) of section 7 of the Insolvency Bankruptcy Code, 2016 (for short to be referred here-in-after as the 'Code'), the Financial Creditor along with the application has to furnish the following: (a) record of the default recorded with the information utility or such other record or evidence of default as may be specified; (b) the name of the resolution professional proposed to act as an interim resolution professional; and (c) any other information as may be specified by the Board. 8. According to the aforesaid requirement, the name of the resolution professional proposed to act as Interim Resolution Professional has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o be accepted, the seven days period would expire on 02.08.2017. 11. The matter has been quite well settled by the Hon'ble Appellate Tribunal in Company Appeal (AT) No. 09 of 2017, JK Jute Mills Co. Ltd. v. Surendra Trading Company , wherein it was held that the seven days' period for the rectification of the defects as stipulated under the proviso to the relevant provisions of sections 7, 8, or 9 is required to be complied with by the Corporate Debtor, whose application otherwise being incomplete is fit to be rejected. It was thus held that the proviso to the aforesaid section made to remove the defects within seven days are mandatory and on failure to do so the application is fit to be rejected. 12. However, the learned ..... X X X X Extracts X X X X X X X X Extracts X X X X
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