Pre-packaged insolvency resolution: approved insolvency professional must undertake timely preparatory actions before initiating the process.

The amendment adds the pre packaged insolvency resolution process under Chapter III A to section 208 and inserts a subsection requiring an insolvency professional whose name is approved under clause (e) of sub section (2) of section 54A to take necessary preparatory actions to perform functions and duties prior to initiation of the pre packaged insolvency resolution process.

---

---

---