CIRP Regulations 35A is not mandatory and the requirement for approaching the Adjudicating Authority for appropriate relief on or before 135th day of the Insolvency Commencement Date is only directory – Jagdish Kumar Parulkar, RP of M/s Tayal Foods Pvt. Ltd. Vs. Vinod Agarwal Ex-Director, M/s Tayal Food Pvt. Ltd. – NCLAT New Delhi

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At the stage of issuance of notice under Section 13(2) of the SARFAESI Act, no interference is called for. The adjudication would have to wait till the stage of Section 13(4) is reached – M/s. S.V. Developers Vs. State Bank of India – Telangana High Court

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