Expeditious disposal: failure to decide within prescribed time requires recorded reasons and allows a short extension of the period. Where an application under the Insolvency and Bankruptcy Code is not disposed of within the prescribed period, the Debt Recovery Tribunal or Debt Recovery Appellate Tribunal must record reasons for the delay; the Chairperson of the Debt Recovery Appellate Tribunal may then, after considering those reasons, extend the prescribed period for disposal for up to ten days.