Mandatory time limit for corporate insolvency resolution requires completion within prescribed statutory period; transitional cases must finish within stipulated timeframe. Amendment mandates that the corporate insolvency resolution process be completed within three hundred and thirty days from the insolvency commencement date, inclusive of any extensions under section 12 and time taken in related legal proceedings. For resolution processes already pending beyond that period, the amendment requires completion within ninety days from commencement of the Amendment Act.
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.
Mandatory time limit for corporate insolvency resolution requires completion within prescribed statutory period; transitional cases must finish within stipulated timeframe.
Amendment mandates that the corporate insolvency resolution process be completed within three hundred and thirty days from the insolvency commencement date, inclusive of any extensions under section 12 and time taken in related legal proceedings. For resolution processes already pending beyond that period, the amendment requires completion within ninety days from commencement of the Amendment Act.
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