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.
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.
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.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
