What is the maximum time limit envisaged under the Insolvency and Bankruptcy Code to resolve a case ........

Economic Affairs Types of Banks and Banking

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What is the maximum time limit envisaged under the Insolvency and Bankruptcy Code to resolve a case?

180 days

270 days

365 days

90 days

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Explanation:

Second option is correct.

The Insolvency and Bankruptcy Code, 2016 (IBC) is the bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy. The Insolvency and Bankruptcy Code, 2015 was introduced in Lok Sabha in December 2015.

The IBC provide for 180 days to resolve a case which can be extended by 90 more days.