Section 10: Decision to be made upon keeping on hearing

1) Notwithstanding anything contained in the laws in force, the Court shall keep on hearing an application made pursuant to this Chapter after commencement of the hearing on the application on the day appointed for the hearing on the application pending the final settlement thereof and make a decision thereon.

Provided that this provision shall not prevent the keeping of a hearing on that matter on the day on which the Court remains open where the hearing cannot be completed or a decision cannot be made on the day of the hearing because of time constraints.

2) Upon the completion of the hearing referred to in sub-section (1), the Court shall make an order to institute or not to institute insolvency proceedings in relation to the company concerned.

3) In making an order pursuant to sub-section (2), the Court shall order to appoint an insolvency professional as an inquiry official for the purposes of making insolvency-related inquiries.

4) In making an appointment of an inquiry authority pursuant to sub-section(3), a person whom the Court thinks fit, out of the persons whose names are included in the list approved by the Office for that purpose, shall be appointed.