Group insolvency rules enable coordinated proceedings, common benches, joint creditor action, and parliamentary oversight of rulemaking. Power is conferred on the Central Government to prescribe the manner and conditions for insolvency proceedings under Part II where proceedings are initiated against two or more corporate debtors forming part of a group. The rules may provide for a common Bench, coordination among creditors and insolvency professionals, a common insolvency professional, a joint committee of creditors, binding coordination agreements, implementation orders, and treatment of coordination costs. The provision defines control, group, insolvency proceedings and significant ownership, and requires parliamentary laying of draft and notified rules.