The central government has promulgated an ordinance that allows the pre-packs to be used as an insolvency resolution mechanism for Micro, Small and Medium Enterprises (MSMEs) having defaults up to Rs 1 crore under the Insolvency and Bankruptcy Code.
Context
The central government has promulgated an ordinance that allows the pre-packs to be used as an insolvency resolution mechanism for Micro, Small and Medium Enterprises (MSMEs) having defaults up to Rs 1 crore under the Insolvency and Bankruptcy Code.
About
Swiss challenge mechanism
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What was the earlier process?
Benefits of pre-packs over the Corporate Insolvency Resolution Process (CIRP)
What is the need for the pre-pack plan?
Insolvency and Bankruptcy Code, 2016 (IBC)
Key Features Insolvency Resolution
Insolvency regulator
Adjudicator:
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Verifying, please be patient.