The corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code runs on a tight statutory clock, and missed milestones can materially affect a creditor's or resolution applicant's position.
From the admission of a CIRP application, the process is intended to conclude within a defined timeline, extendable in limited circumstances. Creditors should track the constitution of the Committee of Creditors, the invitation and evaluation of resolution plans, and the timelines for objections before the National Company Law Tribunal.
Resolution applicants, in particular, should pay close attention to due diligence windows and plan submission deadlines, since late or non-compliant submissions are routinely rejected on technical grounds.
Staying ahead of these milestones — rather than reacting to them — remains the most effective way for creditors and applicants to protect their position through the process.