Skip to content

CS Professional · Insolvency and Bankruptcy - Law and Practice · Corporate Insolvency Resolution Process

Ganga Metals Ltd's fast track process was extended by the Adjudicating Authority by the maximum permissible further period. What is the longest total duration from the insolvency commencement date?

The maximum total duration is 135 days. The base period is ninety days and the Adjudicating Authority may extend by a further period not exceeding forty-five days, so 90 plus 45 gives 135 days from the insolvency commencement date.

  1. AOne hundred and thirty-five daysCorrect
  2. BOne hundred and eighty days
  3. COne hundred and twenty days
  4. DTwo hundred and seventy days

Explanation

Section 56(3) permits an extension not exceeding forty-five days beyond the ninety days. Total is 90 + 45 = 135 days. 180 days wrongly applies the ordinary process period.

Did you get it right without looking?

One question tells you little. A timed set on Corporate Insolvency Resolution Process shows your real accuracy, how long you take and where you lose marks.

Practise Corporate Insolvency Resolution ProcessFree diagnostic mock

More Corporate Insolvency Resolution Process questions