TMI BlogNo Further Extensions Allowed: Section 12 Proviso Bars Additional Insolvency Resolution Periods, Section 60(5) Cannot Override This.Extension of period of insolvency resolution proceeding, beyond limit - when there is a specific provision on the question of maintainability of a claim for subsequent extension under the first proviso to section 12, the provisions of section 60(5) cannot be invoked to take advantage of the non-obstante clause to make an application for subsequent extension maintainable in spite of the specific bar on its maintainability provided in the first proviso to section 12.- HC ..... X X X X Extracts X X X X X X X X Extracts X X X X
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