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of <h1>Pre-Packaged Insolvency Process Aligned with Insolvency and Bankruptcy Code, 2016 through 2021 Amendment Act Modifications</h1> Provisions from Chapters II, III, VI, and VII of the Insolvency and Bankruptcy Code, 2016, apply to the pre-packaged insolvency resolution process with specific modifications. References to 'members of the suspended Board of Directors' and other terms are redefined to align with the pre-packaged process context. Terms like 'insolvency commencement date' and 'resolution professional' are adapted to reflect the pre-packaged framework. These adjustments ensure the relevant sections and chapters are applicable to the pre-packaged insolvency process, aiming to streamline the process while maintaining legal consistency. These changes were implemented through the 2021 Amendment Act.
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