Expeditious disposal of insolvency applications: tribunals must record delays and may extend time, but injunctions are barred. If an insolvency application is not disposed of within the period specified by the Code, the adjudicating tribunal must record reasons for the delay and, after taking those reasons into account, the President or Chairperson may extend the period for disposal for up to ten days; additionally, no court, tribunal or authority may grant an injunction in respect of actions taken or to be taken under the tribunal's powers under the Code.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Expeditious disposal of insolvency applications: tribunals must record delays and may extend time, but injunctions are barred.
If an insolvency application is not disposed of within the period specified by the Code, the adjudicating tribunal must record reasons for the delay and, after taking those reasons into account, the President or Chairperson may extend the period for disposal for up to ten days; additionally, no court, tribunal or authority may grant an injunction in respect of actions taken or to be taken under the tribunal's powers under the Code.
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