https://www.taxtmi.com/acts?id=40098 A new Chapter III-A creates a pre-packaged insolvency resolution process for eligible corporate debtors, prescribing strict eligibility criteria, pre-filing creditor approvals, a required base resolution plan and documentary disclosures. The proposed insolvency professional must prepare a compliance report prior to initiation. On admission the Adjudicating Authority declares a moratorium, appoints the resolution professional, and the resolution professional conducts an expedited process: confirming claims, constituting a committee of creditors, preparing information materials, soliciting and evaluating resolution plans, and submitting a committee-approved plan to the Adjudicating Authority for approval under adapted chapter provisions. en-us Fri, 13 Aug 2021 13:15:26 +0530 Fri, 13 Aug 2021 13:15:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=40098 A new Chapter III-A creates a pre-packaged insolvency resolution process for eligible corporate debtors, prescribing strict eligibility criteria, pre-filing creditor approvals, a required base resolution plan and documentary disclosures. The proposed insolvency professional must prepare a compliance report prior to initiation. On admission the Adjudicating Authority declares a moratorium, appoints the resolution professional, and the resolution professional conducts an expedited process: confirming claims, constituting a committee of creditors, preparing information materials, soliciting and evaluating resolution plans, and submitting a committee-approved plan to the Adjudicating Authority for approval under adapted chapter provisions. Act-Rules F. Acts / Amendment Acts Fri, 13 Aug 2021 13:15:26 +0530 https://www.taxtmi.com/acts?id=40098