What is the initial statutory period for an ordinary corporate insolvency resolution process, counted from admission under section 12(1) of the Insolvency and Bankruptcy Code, 2016?

Section 12(1) of the Insolvency and Bankruptcy Code, 2016 requires the corporate insolvency resolution process to be completed within 180 days from admission of the application. The Adjudicating Authority may extend it once by up to 90 days, within the overall limit of 330 days including litigation time.