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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Insolvency Code Update: Section 208 Amended for Pre-Packaged Resolution; New Duties for Professionals Under Sub-Section 1A</h1> Section 208 of the Insolvency and Bankruptcy Code has been amended to include a clause regarding the pre-packaged insolvency resolution process under Chapter III-A of Part II. Additionally, a new sub-section (1A) has been introduced, specifying that an insolvency professional, once approved as a resolution professional under section 54A(2)(e), is responsible for necessary actions to fulfill their duties before the initiation of the pre-packaged insolvency resolution process.
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