P Ksaikia, Member - (1.) 15.12.2017 Ms. M. Binani, FCS and Mr. A. Baruah, learned Advocate are present on behalf of the applicants. Mr. S.J. Sarmah, learned Advocate is present representing the respondent/Corporate Debtor.
(2.) Today, the respondent's side was directed to submit objection, if any, in the matter of admission of the application in hand. However, Mr. S.J. Sarmah, learned Advocate for the respondents, submits that Mr. A.K. Srivastava, learned Advocate, who was supposed to offer arguments on behalf of the Corporate Debtor in this case, could not be present before this authority today due to some other preoccupations and as such he prays that the matter be adjourned for some time so that the Corporate Debtor may file written objection opposing the admission of the present application.
(3.) In that connection, I have also heard Ms. M. Binani, FCS, who objects granting adjournment stating that this authority is duty bound to dispose of the matter within a certain period of time as specified in Section 7 (4) of the Insolvency & Bankruptcy Code, 2016 (in short, IBC 2016) .;