Pre-packaged insolvency process: approval of a proposed resolution professional triggers duty to act before initiation of the process. The amendment adds the pre-packaged insolvency resolution process to the scope of section 208 and establishes that where an insolvency professional's name is approved for appointment as resolution professional, it is the function of that insolvency professional to take necessary actions to perform functions and duties prior to initiation of the pre-packaged process.
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 process: approval of a proposed resolution professional triggers duty to act before initiation of the process.
The amendment adds the pre-packaged insolvency resolution process to the scope of section 208 and establishes that where an insolvency professional's name is approved for appointment as resolution professional, it is the function of that insolvency professional to take necessary actions to perform functions and duties prior to initiation of the pre-packaged process.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
