Failure To Provide Time To Cure Defect In Section 9 Application Violates Procedural Mandate: NCLAT

The NCLAT found that failing to provide an opportunity to cure defects in a Section 9 application under the IBC violates procedural mandates. The case involved a creditor's application for insolvency resolution where defects in the application were not addressed due to lack of time given to the applicant to rectify them. The tribunal held that the procedural requirement to allow time for curing defects is crucial and cannot be overlooked. This ruling emphasizes the need for adherence to procedural fairness in insolvency proceedings and ensures that applicants are given a fair chance to correct any deficiencies in their applications.