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of <h1>Insolvency professional seeks termination of pre-packaged insolvency due to committee decision or lack of approved resolution plan.</h1> An application is submitted to the Adjudicating Authority by an insolvency professional for the termination of a pre-packaged insolvency resolution process concerning a corporate debtor. The termination is based on the decision by the committee of creditors or due to the absence of a submitted resolution plan within the permitted timeframe, or because a selected resolution plan was not approved by the committee. The application includes necessary details such as the insolvency professional's registration and contact information, along with a report of termination. The process adheres to the Insolvency and Bankruptcy Code, 2016, and relevant regulations.
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