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      Question

      Under the Insolvency and Bankruptcy Code (IBC), 2016,

      what is the maximum time limit for completing the Corporate Insolvency Resolution Process (CIRP) including extensions?
      A 90 days Correct Answer Incorrect Answer
      B 180 days Correct Answer Incorrect Answer
      C 330 days Correct Answer Incorrect Answer
      D 365 days Correct Answer Incorrect Answer
      E No time limit prescribed Correct Answer Incorrect Answer

      Solution

      IBC provides 180 days for CIRP, extendable by 90 days (total 270), and further 330 days cap including litigation delays, as per amendment. This ensures time-bound resolution.

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