28.1.19: The Companies (Mediation and Conciliation) Rules, 2016
19. Time limit for completion of mediation or conciliation
(1) The process for any mediation or conciliation under these rules shall be completed within a period of three months from the date of appointment of expert or experts from the Panel.
(2) On the expiry of three months from the date of appointment of expert or experts from the Panel, the mediation or conciliation process shall stand terminated.
(3) In case of mediation or conciliation in relation to any proceeding before Tribunal or Appellate Tribunal which could not be completed within three months, the Tribunal or as the case may be, the Appellate Tribunal, may on the application of mediator or conciliator or any of the party to the proceedings, extend the period for mediation or conciliation by such period not exceeding three months.