https://www.taxtmi.com/acts?id=54016 Power is conferred on the Central Government to prescribe the manner and conditions for insolvency proceedings under Part II where proceedings are initiated against two or more corporate debtors forming part of a group. The rules may provide for a common Bench, coordination among creditors and insolvency professionals, a common insolvency professional, a joint committee of creditors, binding coordination agreements, implementation orders, and treatment of coordination costs. The provision defines control, group, insolvency proceedings and significant ownership, and requires parliamentary laying of draft and notified rules. en-us Tue, 07 Apr 2026 13:15:55 +0530 Tue, 07 Apr 2026 13:15:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=54016 Power is conferred on the Central Government to prescribe the manner and conditions for insolvency proceedings under Part II where proceedings are initiated against two or more corporate debtors forming part of a group. The rules may provide for a common Bench, coordination among creditors and insolvency professionals, a common insolvency professional, a joint committee of creditors, binding coordination agreements, implementation orders, and treatment of coordination costs. The provision defines control, group, insolvency proceedings and significant ownership, and requires parliamentary laying of draft and notified rules. Act-Rules F. Acts / Amendment Acts Tue, 07 Apr 2026 13:15:55 +0530 https://www.taxtmi.com/acts?id=54016