https://www.taxtmi.com/acts?id=31034 Section 56 of the Insolvency and Bankruptcy Code, 2016, dealing with the time period for completion of the fast track corporate insolvency resolution process, has been omitted with effect from 26-05-2026. Earlier, the provision required completion within ninety days from the insolvency commencement date, with one possible extension of up to forty-five days on application by the resolution professional supported by a seventy-five per cent vote of the committee of creditors and granted by the Adjudicating Authority only if the process could not be completed within ninety days. en-us Tue, 02 Jan 2018 14:43:31 +0530 Tue, 26 May 2026 12:01:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31034 Section 56 of the Insolvency and Bankruptcy Code, 2016, dealing with the time period for completion of the fast track corporate insolvency resolution process, has been omitted with effect from 26-05-2026. Earlier, the provision required completion within ninety days from the insolvency commencement date, with one possible extension of up to forty-five days on application by the resolution professional supported by a seventy-five per cent vote of the committee of creditors and granted by the Adjudicating Authority only if the process could not be completed within ninety days. Act-Rules IBC Tue, 02 Jan 2018 14:43:31 +0530 https://www.taxtmi.com/acts?id=31034