Case Law Analysis
|National Company Law Appellate Tribunal
Section 12 IBC | NCLAT Allows CIRP Timeline Exclusion for RP Transition Delays to Prevent Mechanical Liquidation
NCLAT grants exclusion of 87 days from the CIRP timeline due to delays in transitioning Resolution Professionals, emphasizing that liquidation should be a last resort. The ruling reinforces the need to preserve corporate debtors as going concerns, offering relief to stakeholders facing procedural delays under the IBC.