Free Resource
CIRP Timeline Tool
A stage-by-stage walkthrough of the Corporate Insolvency Resolution Process, with the statutory timeframe for each stage.
A stage-by-stage walkthrough of the Corporate Insolvency Resolution Process, with the statutory timeframe for each stage.
Click any stage to see the detail. Timeframes reflect the Insolvency and Bankruptcy Code, 2016 as generally applied; actual timelines can vary based on litigation, court backlogs, and case-specific facts.
A financial creditor (Section 7), operational creditor (Section 9), or the corporate debtor itself (Section 10) files an application with the Adjudicating Authority (NCLT).
The Adjudicating Authority is required to admit or reject the application within 14 days of filing, subject to the application being complete.
A moratorium under Section 14 takes effect immediately, suspending most legal proceedings against the corporate debtor. An Interim Resolution Professional (IRP) is appointed to take over management.
The IRP makes a public announcement inviting claims from creditors, and begins collating the corporate debtor's assets and liabilities.
Financial creditors are constituted into a Committee of Creditors (CoC), which takes over key decision-making, including confirming or replacing the Resolution Professional.
The core resolution process runs for 180 days, during which the Resolution Professional manages operations and invites resolution plans from prospective applicants.
The CoC may seek a one-time extension of up to 90 days from the Adjudicating Authority, taking the process to a maximum of 270 days in the ordinary course.
Judicial and legislative developments have established an outer limit of 330 days for completing CIRP, including time spent in any legal proceedings, save in limited exceptional circumstances.
The CoC approves a resolution plan with at least 66% voting share, which then requires the Adjudicating Authority's approval under Section 31. If no plan is approved in time, the Adjudicating Authority orders liquidation.