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of <h1>Pre-Packaged Insolvency Termination: Resolution Professional to File Under Insolvency and Bankruptcy Code; Liquidation Possible</h1> The termination of a pre-packaged insolvency resolution process involves the resolution professional filing an application with the Adjudicating Authority under specific sections of the Insolvency and Bankruptcy Code. The Authority must terminate the process within thirty days and address the continuation of related proceedings. If the committee of creditors, with a two-thirds majority, decides to terminate the process, the Authority will issue an order accordingly. The corporate debtor is responsible for the process costs. In certain cases, the Authority may order liquidation, incorporating process costs into liquidation expenses. Appeals against such orders can be filed on grounds of irregularity or fraud.
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