The Insolvency and Bankruptcy Code, 2016
Part-IV Regulation of Insolvency Professionals, Agencies and Information Utilities
Chapter-II Powers and Functions of the Board
Section 198: Condonation of delay.
*198. Notwithstanding anything contained in this Code, where the Board does not perform any act within the period specified under this Code, the relevant Adjudicating Authority may, for reasons to be recorded in writing, condone the delay.
*Effective from 01.12.2016.