Fast Track CIRP

cirp fast track

Fast track CIRP is applicable for companies with a less complicated structure. With a mandatory completion period of 90 days as opposed to 180 days in a usual CIRP set-up, fast track CIRP is decided upon assets & income, class of creditors. The resolution professional can file an application to the Adjudicating Authority if an extension beyond the 90 days is required. This application will be passed at a meeting of the COC supported by seventy five per cent of the voting share.