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of <h1>Streamlined Insolvency Resolution for Eligible Corporate Debtors Under Section 55 of Insolvency and Bankruptcy Code 2016</h1> The fast track corporate insolvency resolution process under Section 55 of the Insolvency and Bankruptcy Code, 2016, provides a streamlined procedure for resolving insolvency for specific corporate debtors. This process applies to corporate debtors with assets and income below a certain threshold, those with a particular class of creditors or amount of debt, or other categories as notified by the Central Government. This provision aims to expedite the resolution process for eligible corporate entities, ensuring a more efficient handling of insolvency cases.
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