Pre-packaged insolvency resolution termination governs prompt closure, continuation of avoidance proceedings, and liquidation-linked cost treatment. Termination of the pre-packaged insolvency resolution process is required on application by the resolution professional or on committee of creditors' approval, and the Adjudicating Authority must terminate the process, direct continuation of avoidance or related proceedings, and make the necessary cost and liquidation orders where applicable.
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 termination governs prompt closure, continuation of avoidance proceedings, and liquidation-linked cost treatment.
Termination of the pre-packaged insolvency resolution process is required on application by the resolution professional or on committee of creditors' approval, and the Adjudicating Authority must terminate the process, direct continuation of avoidance or related proceedings, and make the necessary cost and liquidation orders where applicable.
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