Fast track corporate insolvency resolution process for notified corporate debtors and other specified categories under insolvency law. Section 55 of the Insolvency and Bankruptcy Code, 2016 dealt with the fast track corporate insolvency resolution process. It provided that a corporate insolvency resolution process under the Chapter would be treated as a fast track process and permitted applications for specified categories of corporate debtors, including those with assets and income below a notified threshold, those with a notified class of creditors or amount of debt, and other notified categories of corporate persons. The section was later omitted.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Fast track corporate insolvency resolution process for notified corporate debtors and other specified categories under insolvency law.
Section 55 of the Insolvency and Bankruptcy Code, 2016 dealt with the fast track corporate insolvency resolution process. It provided that a corporate insolvency resolution process under the Chapter would be treated as a fast track process and permitted applications for specified categories of corporate debtors, including those with assets and income below a notified threshold, those with a notified class of creditors or amount of debt, and other notified categories of corporate persons. The section was later omitted.
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