Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amendment to Section 11 of Insolvency Code introduces pre-packaged insolvency resolution process for financial and operational creditors.</h1> Section 11 of the Insolvency and Bankruptcy Code is amended to include provisions for pre-packaged insolvency resolution processes. The amendment inserts the phrase 'or a pre-packaged insolvency resolution process' into clause (a). It adds a new clause (aa) specifying that a financial or operational creditor of a corporate debtor undergoing such a process is included. Additionally, a new clause (ba) is introduced, covering corporate debtors with an approved resolution plan under Chapter III-A within twelve months before the application date.
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