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of <h1>Section 64 IBC 2016: Tribunals Must Document Delays; Extensions Possible; No Injunctions Against Tribunal Actions Allowed.</h1> Section 64 of the Insolvency and Bankruptcy Code, 2016 mandates that if an application is not resolved or an order is not issued within the specified period, the National Company Law Tribunal (NCLT) or the National Company Law Appellate Tribunal (NCLAT) must document the reasons. The President or Chairperson may extend the period by up to ten days based on these reasons. Additionally, no court or authority can grant an injunction against actions taken under the powers of the NCLT or NCLAT as per this Code.
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