0In India, according to the Insolvency and Bankruptcy Code, 2016, the process of insolvency resolution for companies should be completed in how many days?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. 180
- the corporate insolvency resolution process shall be completed within a period of one hundred and eighty days (180) from the date of admission of the application to initiate such process.
- This includes time spent on litigation and other judicial processes.
- This timeline is crucial to ensure the timely resolution of financial distress and bankruptcy proceedings.