https://www.taxtmi.com/news?id=23533 The Sub Committee proposes a PPIRP under the IBC as a debtor initiated, debtor in possession restructuring route available to all corporate debtors (phased rollout), requiring prior consent of a simple majority of unrelated financial creditors and shareholders; oversight by a Resolution Professional; CoC decision making with 66% approval for plans and 75% for liquidation; moratorium from commencement; independent valuations; optional swiss challenge to maximise value; preservation of section 29A eligibility; and a 90 day market phase plus 30 days for Adjudicating Authority approval, with safeguards against misuse and a call to augment NCLT capacity. en-us Sat, 09 Jan 2021 10:06:53 +0530 Wed, 11 Feb 2026 15:59:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=23533 The Sub Committee proposes a PPIRP under the IBC as a debtor initiated, debtor in possession restructuring route available to all corporate debtors (phased rollout), requiring prior consent of a simple majority of unrelated financial creditors and shareholders; oversight by a Resolution Professional; CoC decision making with 66% approval for plans and 75% for liquidation; moratorium from commencement; independent valuations; optional swiss challenge to maximise value; preservation of section 29A eligibility; and a 90 day market phase plus 30 days for Adjudicating Authority approval, with safeguards against misuse and a call to augment NCLT capacity. News - Sat, 09 Jan 2021 10:06:53 +0530 https://www.taxtmi.com/news?id=23533