New SIDBI Grade A New Batch Starts on Nov 18

    Register

    Question

    Corporate insolvency resolution process shall mandatorily be completed within a period of ___________________ from the insolvency commencement date, including any extension of the period of corporate insolvency resolution process granted under this section and the time taken in legal proceedings in relation to such resolution process of the corporate debtor

    A 180 days Correct Answer Incorrect Answer
    B 280 days Correct Answer Incorrect Answer
    C 330 days Correct Answer Incorrect Answer
    D At the discretion of the NCLT Correct Answer Incorrect Answer

    Solution

    Explanation: Section 12-Time-limit for completion of insolvency resolution process- the corporate insolvency resolution process shall mandatorily be completed within a period of three hundred and thirty days from the insolvency commencement date, including any extension of the period of corporate insolvency resolution process granted under this section and the time taken in legal proceedings in relation to such resolution process of the corporate debtor.

    Practice Next