As per the case facts, an application under Section 7 of the IBC was admitted by the Adjudicating Authority, and this decision was upheld by the National Company Law Appellate ... Tribunal (NCLAT), which condoned a delay in the application. The bank filed an appeal against this. The reason for the appeal to the Supreme Court was to challenge the NCLAT's judgment upholding the admission of the Section 7 application, particularly concerning the condonation of delay. The question arose whether the NCLAT was correct in upholding the admission of the application under Section 7 of the IBC and condoning the delay. Finally, the Supreme Court dismissed the appeal, holding that the IBC proceedings would continue. The Court upheld the NCLAT's decision, implicitly agreeing with the admission of the application and the condonation of delay. It left it open for the applicant to pursue their remedy before the Adjudicating Authority or other appropriate forums regarding related applications, thereby confirming the continuation of the insolvency process.