As a practical matter, a company can't be referred to the National Company Law Tribunal (NCLT) within weeks and months of a first default. The promoters should be given a fair chance to revive the company.
source https://economictimes.indiatimes.com/industry/banking/finance/banking/rbis-action-against-reliance-capital-better-late-than-never/articleshow/88040852.cms
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