Litigation Time Excluded from 270-Day Limit u/s 12 of Insolvency and Bankruptcy Code to Aid Debtor Operations.

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....Exclusion of the time period spent in litigation - the proposition which emerges therefore is that certain period can be excluded from the total period of 270 days permissible u/s 12 of the Code - If there is a Resolution Applicant who can continue to run the corporate debtor as a going concern, every effort must be made to try and see that this is made possible....