https://www.taxtmi.com/article/detailed?id=12746 The pre-packaged insolvency framework for MSME corporate debtors mandates a time-bound process including claim solicitation, CoC formation, and submission of any CoC-approved resolution plan within the statutory period; if no plan is approved within that period the resolution professional must apply for termination of the pre-pack process. Section 54P prescribes which insolvency provisions apply mutatis mutandis to pre-packs and thereby limits the applicability of general extension provisions, while non-compliance with duties under Sections 54D and 54K can prompt termination and referral to disciplinary authorities. en-us Fri, 28 Jun 2024 17:31:52 +0530 Fri, 28 Jun 2024 17:31:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12746 The pre-packaged insolvency framework for MSME corporate debtors mandates a time-bound process including claim solicitation, CoC formation, and submission of any CoC-approved resolution plan within the statutory period; if no plan is approved within that period the resolution professional must apply for termination of the pre-pack process. Section 54P prescribes which insolvency provisions apply mutatis mutandis to pre-packs and thereby limits the applicability of general extension provisions, while non-compliance with duties under Sections 54D and 54K can prompt termination and referral to disciplinary authorities. Articles Corporate Laws / IBC / SEBI Fri, 28 Jun 2024 17:31:52 +0530 https://www.taxtmi.com/article/detailed?id=12746