Pre-packaged insolvency certification: proposed resolution professional must confirm debtor eligibility and plan compliance before appointment. The proposed Resolution Professional must declare that they have obtained and examined all information required, confirm the corporate debtor's MSME status, confirm absence of prior or ongoing CIRP or liquidation within the look-back period, and that required director/partner declarations and corporate member resolutions approving initiation have been obtained. The report must state that creditors holding the prescribed proportion of debt have approved the professional's appointment and the initiation, that the default is within the notified threshold, and that the base resolution plan complies with the Code and Pre-pack Regulations.
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 certification: proposed resolution professional must confirm debtor eligibility and plan compliance before appointment.
The proposed Resolution Professional must declare that they have obtained and examined all information required, confirm the corporate debtor's MSME status, confirm absence of prior or ongoing CIRP or liquidation within the look-back period, and that required director/partner declarations and corporate member resolutions approving initiation have been obtained. The report must state that creditors holding the prescribed proportion of debt have approved the professional's appointment and the initiation, that the default is within the notified threshold, and that the base resolution plan complies with the Code and Pre-pack Regulations.
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