Pre-packaged insolvency process for micro, small and medium enterprises creates expedited, creditor driven framework for resolution, approvals and timelines. The Ordinance inserts Chapter III A to introduce a pre-packaged insolvency resolution process for corporate debtors that are micro, small or medium enterprises, subject to eligibility conditions including creditor approvals, management declarations, a member/partner resolution and submission of a base resolution plan. The insolvency professional approved by specified financial creditors must report on eligibility and the base plan; the Adjudicating Authority must admit or reject applications within 14 days; the process must conclude within 120 days with moratorium, committee of creditors oversight, 66% voting thresholds for key decisions, potential conversion to full CIRP, and specified penalties for fraudulent or false information.