Companies Act Section 422: Tribunals must resolve cases within 3 months, extensions require documented reasons.
Section 422 of the Companies Act, 2013 mandates that the National Company Law Tribunal and the Appellate Tribunal must handle and resolve applications, petitions, and appeals as quickly as possible, ideally within three months of their presentation or filing. If this timeframe is not met, the Tribunal or Appellate Tribunal must document the reasons for the delay. The President or Chairperson may extend the period by up to ninety days after considering these reasons.
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