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Tag Archive for "cirp-and-ibc" -

CentrikBlogsCIRP and IBC

Tag: CIRP and IBC

Resolution Plan has to be completed within the stipulated period

Posted by Advocate Chetna BishtPosted on August 12, 2022August 14, 20220 CommentsCategories Corporate Litigation-All In Way, Debt Recovery Management, Insolvency & Bankruptcy Code 2016, Registration And ComplianceTags 330 days IBC not mandatory, CIRP and IBC, CIRP under IBC, corporate insolvency resolution process, extension of CIRP beyond 330 days, Insolvency and Bankruptcy Code, insolvency resolution process of a Corporate Debtor, Resolution Plan has to be completed, time limit for completion of liquidation process, time limit for receipt of claim of creditors by the liquidator

As per proviso to Section 12 of the IBC, the insolvency resolution process shall mandatorily be completed within a period of 330 days from the insolvency commencement date, including any extension of the period of CIRP granted under Section 12 of the IBC.

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