CS Professional · Corporate Restructuring, Valuation and Insolvency · Fast Track Mergers
The Central Government received the fast track scheme of Narmada Engineering Ltd on 10 March. The Regional Director has objections and wants the Tribunal to examine the scheme. Counting from the date of receipt, what is the last date on which the Central Government can file its application before the Tribunal?
The last date is 9 May. The Central Government has 60 days from receiving the scheme on 10 March. That is 21 days to the end of March, 30 days in April and 9 days in May. A 30-day or 90-day count would give a wrong date.
- A9 April
- B9 MayCorrect
- C10 May
- D8 June
Explanation
The limit is 60 days from receipt. Counting from 10 March, 21 days remain in March (to 31 March), 30 more in April makes 51 days, and 9 more days in May makes 60 days, which falls on 9 May. An end date of 9 April would count only 30 days. An end date of 8 June would count 90 days.
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