Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Initiating Corporate Insolvency Resolution Process Under Section 54O: Key Steps and Voting Requirements Explained</h1> Section 54O of the Insolvency and Bankruptcy Code, 2016, outlines the initiation of a corporate insolvency resolution process (CIRP) following a pre-packaged insolvency. The committee of creditors, with a 66% vote, may resolve to initiate CIRP if the corporate debtor is eligible under Chapter II. Upon notification, the Adjudicating Authority must terminate the pre-packaged process, appoint an interim resolution professional, and include pre-packaged costs in the CIRP costs. The order initiates CIRP, continues avoidance proceedings, and adjusts timelines to include the pre-packaged process duration. This provision was added by the 2021 amendment.
TaxTMI 
TaxTMI 
