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.
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.
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.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
