Question
What is the time period by which the Adjudicating
Authority may by order extend the duration of corporate insolvency resolution process beyond one hundred and eighty days by such further period ________________Solution
Section 12-Time-limit for completion of insolvency resolution process: (3) On receipt of an application under sub-section (2), if the Adjudicating Authority is satisfied that the subject matter of the case is such that corporate insolvency resolution process cannot be completed within one hundred and eighty days, it may by order extend the duration of such process beyond one hundred and eighty days by such further period as it thinks fit, but not exceeding ninety days. Â
'Hydraulic brakes' work on the principle of –
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