Rule making authority expanded to set forms and procedures for pre packaged insolvency processes and professional approvals.

Amendment adds rule making authority to prescribe forms, manners and conditions for the pre packaged insolvency process, including specification of financial creditors and procedures for proposing and approving insolvency professionals, forms for approvals and declarations, base resolution plan requirements, formats for reports and duties, determination and allocation of resolution professional fees and expenses, procedures for claims confirmation and maintenance, preparation of the information memorandum, appointment of professionals, committee composition alterations, application and invitation procedures for resolution applicants, and submission of written consents.

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