Section 14: Power to extend period of insolvency proceedings

1)Where the inquiry officer, showing a reasonable reason why the financial situation of the company cannot be inquired into within the period of inquiry as specified pursuant to sub-section (2) of Section 13, makes an application to the Court for the extension of that period, the Court may, if it finds the reasonable ground, extend the period as appropriate.

2) Where the period of inquiry is extended pursuant to sub-section (1), the information thereof shall be given to the concerned company.