Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021 - IBBI/2021-22/GN/REG071 - Insolvency and Bankruptcy
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Pre-packaged insolvency process enables expedited creditor-driven restructuring with prescribed valuation, voting and plan approval procedures. The Regulations establish procedural and substantive rules for the pre-packaged insolvency resolution process, detailing definitions, eligibility and appointment of a resolution professional, creditor meeting notices and approvals, constitution and functioning of the committee (including authorised representatives), secured electronic voting and quorum rules, valuation by two registered valuers to determine fair and liquidation values, mandatory contents and evaluation mechanics for resolution plans (including tick size, significant improvement and performance security), confidentiality requirements, and prescribed forms and timelines for filing, approval, termination or vesting of management.
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.
Pre-packaged insolvency process enables expedited creditor-driven restructuring with prescribed valuation, voting and plan approval procedures.
The Regulations establish procedural and substantive rules for the pre-packaged insolvency resolution process, detailing definitions, eligibility and appointment of a resolution professional, creditor meeting notices and approvals, constitution and functioning of the committee (including authorised representatives), secured electronic voting and quorum rules, valuation by two registered valuers to determine fair and liquidation values, mandatory contents and evaluation mechanics for resolution plans (including tick size, significant improvement and performance security), confidentiality requirements, and prescribed forms and timelines for filing, approval, termination or vesting of management.
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