https://www.taxtmi.com/news?id=24354 The Act creates a statutory pre-packaged insolvency resolution process for eligible corporate debtors, setting eligibility conditions (no recent insolvency, creditor and member approvals, conformity of a base resolution plan), a filing regime under section 54C with prescribed documents, mandatory admission or rejection within 14 days, a moratorium on admission, and tightly prescribed timelines-120 days to complete the pre-pack and 90 days to submit the committee-approved plan-alongside duties and powers of the insolvency/resolution professional, creditor voting thresholds, competitive consideration of base and competing plans, conversion or termination mechanics, and penalties for fraudulent filings and conduct. en-us Fri, 13 Aug 2021 11:19:17 +0530 Wed, 11 Feb 2026 15:59:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=24354 The Act creates a statutory pre-packaged insolvency resolution process for eligible corporate debtors, setting eligibility conditions (no recent insolvency, creditor and member approvals, conformity of a base resolution plan), a filing regime under section 54C with prescribed documents, mandatory admission or rejection within 14 days, a moratorium on admission, and tightly prescribed timelines-120 days to complete the pre-pack and 90 days to submit the committee-approved plan-alongside duties and powers of the insolvency/resolution professional, creditor voting thresholds, competitive consideration of base and competing plans, conversion or termination mechanics, and penalties for fraudulent filings and conduct. News - Fri, 13 Aug 2021 11:19:17 +0530 https://www.taxtmi.com/news?id=24354