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NCLAT: Can’t Extend CIRP beyond 330 Days u/s 12(3) of IBC Unless Exceptional Circumstances Present - (19 Dec 2024)

INSOLVENCY

NCLAT New Delhi bench has held that, under Section 12(3) of Insolvency and Bankruptcy Code, 2016 the maximum timeline prescribed for CIRP is 330 days and an extension beyond this period can only be granted if exceptional circumstances are present.

Tags : NCLAT NEW DELHI   EXCEPTIONAL CIRCUMSTANCES   CIRP  

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