TIME BOUND RESOLUTION PROCESS UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016

The Insolvency and Bankruptcy Code played an important to deal with the matters in relation to insolvency of corporate debtor, individual, partnership firm. This only happen when the corporate debtor became insolvent. This mainly focusing on the time bound resolution process under IBC. The CIRP is only finished the stipulated time period, but not finished at correct time it leads to the delay and also it affects the object of the IBC, which may lead to the implementation challenges. This paper mainly deals with the NCLT role and the judicial precedent in relation to time bound resolution. This article follows the doctrinal based methodology. Key words – CIRP process, Time bound resolution process, NCLT