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IBC - Highlights / Catch Notes

Home Highlights May 2020 Year 2020 This

The ‘I&B Code’ has specified time frame for conclusion of ...

Insolvency and Bankruptcy

May 27, 2020

The ‘I&B Code’ has specified time frame for conclusion of ‘Corporate Insolvency Resolution Process’ within 180 days and the extended period prescribed is 270 days. With the latest amendment, provision has been made for inclusion of period of judicial intervention, thereby taking the total extended period upto 330 days. A mere glance at the legal framework governing ‘Corporate Insolvency Resolution Process’ brings it to the fore that speed is the password and all authorities under the ‘I&B Code’ have to adhere to the prescribed timelines.

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