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of <h1>Fast Track Insolvency Process Extension: Regulation 39 Allows Application for Extension Beyond 90 Days under Section 56.</h1> Regulation 39 of the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017, allows for the extension of the fast track process period. If the committee believes the process cannot be completed within the initial 90 days, it may direct the resolution professional to apply to the Adjudicating Authority for an extension under section 56. Upon receiving such instruction, the resolution professional is required to submit an application for the extension to the Adjudicating Authority.
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