COVID-19 lockdown period to be excluded from the time-limit for insolvency resolution process under Section 12 IBC: NCLAT

Any interim order/stay order under Insolvency and Bankruptcy Code, 2016 shall continue to operate till the next date of hearing, which may be notified later.

The National Company Law Appellate Tribunal has ordered that the period of lockdown in connection with the COVID-19 pandemic shall be excluded for the purpose of counting of the period for resolution process under Section 12 of the Insolvency and Bankruptcy Code, 2016.

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