High-level panel on IBC review may stick to 270-day resolution deadline

A company's assets will be liquidated after 270 days

A high-level panel set up to review the Insolvency and Bankruptcy Code (IBC) is likely to have recommended against extending a 270-day moratorium for restructuring a company after its case is admitted by the National Company Law Tribunal (NCLT).  The committee submitted its report to the government on Monday. 

There is a demand for relaxing the moratorium since the litigation initiated by various parties comes in the way of restructuring a company and delay the process. 

According to IBC norms, restructuring a company has to conclude within 180 days after an insolvency case is admitted by the NCLT. This deadline can be