(1) The Adjudicating Authority shall, within fourteen days of the receipt of the report submitted by the resolution professional under sub-section (2) of section 83—
- admit the application, if the debtor is eligible under section 80 and the application is complete; or
- reject the application if the debtor is not eligible under section 80 or the application is incomplete.
(2) The Adjudicating Authority shall issue a notice to the debtor and the creditors mentioned in the application before rejecting the application.