Pre-packaged insolvency clarifies that insolvency provisions apply mutatis mutandis with specified textual substitutions to the process. Certain provisions of Chapters II, III, VI and VII apply mutatis mutandis to the pre-packaged insolvency resolution process, with specified textual substitutions: references to board members, specific clauses and sections, and to the resolution professional are to be read as their pre-pack equivalents. Terminology replacements include 'insolvency commencement date' to 'pre-packaged insolvency commencement date', 'resolution professional' to the professional appointed under the Chapter, 'corporate insolvency resolution process' to the pre-packaged process, and corresponding substitution for the process period, ensuring procedural roles and timelines align with the pre-pack framework.
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 clarifies that insolvency provisions apply mutatis mutandis with specified textual substitutions to the process.
Certain provisions of Chapters II, III, VI and VII apply mutatis mutandis to the pre-packaged insolvency resolution process, with specified textual substitutions: references to board members, specific clauses and sections, and to the resolution professional are to be read as their pre-pack equivalents. Terminology replacements include "insolvency commencement date" to "pre-packaged insolvency commencement date", "resolution professional" to the professional appointed under the Chapter, "corporate insolvency resolution process" to the pre-packaged process, and corresponding substitution for the process period, ensuring procedural roles and timelines align with the pre-pack framework.
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