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      Question

      The Fast Track CIRP completion period can be extended by

      a resolution passed at a meeting of the committee of creditors and supported by______________
      A 50% of the voting share Correct Answer Incorrect Answer
      B 65% of the voting share Correct Answer Incorrect Answer
      C 66% of the voting share Correct Answer Incorrect Answer
      D 75% of the voting share Correct Answer Incorrect Answer

      Solution

      Section 56-Time period for completion of fast-track corporate insolvency resolution process- (2) The resolution professional shall file an application to the Adjudicating Authority to extend the period of the fast-track corporate insolvency resolution process beyond ninety days if instructed to do so by a resolution passed at a meeting of the committee of creditors and supported by a vote of seventy five percent of the voting share

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