Extension of fast track insolvency period requires committee instruction and resolution professional application to adjudicating authority. The committee, if of the opinion that the fast track process cannot be completed within the prescribed period, may instruct the resolution professional to make an application to the adjudicating authority for extension, and the resolution professional shall, on receiving such instruction, make the application for extension.
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Provisions expressly mentioned in the judgment/order text.
Extension of fast track insolvency period requires committee instruction and resolution professional application to adjudicating authority.
The committee, if of the opinion that the fast track process cannot be completed within the prescribed period, may instruct the resolution professional to make an application to the adjudicating authority for extension, and the resolution professional shall, on receiving such instruction, make the application for extension.
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