Answer the questions given at the end of the following three scenarios: ABC Limited (Corporate Debtor) filed an application for initiating 'Pre-Packaged Insolvency Resolution Process' (PPIRP) on 1st March, 2024. While th

Section 11A of the Insolvency and Bankruptcy Code, 2016 provides for disposal of applications under section 54C and under section 7 or section 9 or section 10 of the Code. Adjudicating Authority shall dispose of the respective application under the different scenarios in the following manner: Where an application filed under Section 54C (to initiate PPIRP) is pending, the Adjudicating Authority shall pass an order to admit or reject such application, before considering an application filed under Section 7 or Section 9 or Section 10 during the pendency of such application under Section 54 C, in respect of the same Corporate Debtor. Accordingly, the Adjudicating Authority shall dispose of the application of the corporate debtor made on 1st March, 2024 for initiating PPIRP.