While IBC prescribes that the corporate insolvency resolution process shall be completed within a period of 330 days from the insolvency commencement date, cases under IBC have been dragged for more than two years. In the case of Jaypee Infratech Limited which involves around 20,000 homebuyers, the application for initiation of corporate insolvency resolution process was admitted on August 9, 2017, and the resolution plan approved by the CoC of Jaypee Infratech Limited is pending approval before the adjudicating authority.