https://www.taxtmi.com/acts?id=54066 Conversion of a creditor-initiated insolvency resolution process into a corporate insolvency resolution process is required where no resolution plan is received within the stipulated period, the corporate debtor or its personnel fail to assist or cooperate, or the plan is rejected under the specified approval provisions. The Adjudicating Authority must convert the process under Chapter II, determine the stage of commencement, appoint the resolution professional, declare a moratorium, and include prior costs as insolvency resolution process costs. The committee of creditors may also approve conversion by a sixty-six per cent vote, and pending avoidance or fraudulent trading proceedings continue after conversion. en-us Thu, 09 Apr 2026 10:37:48 +0530 Thu, 09 Apr 2026 17:14:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=54066 Conversion of a creditor-initiated insolvency resolution process into a corporate insolvency resolution process is required where no resolution plan is received within the stipulated period, the corporate debtor or its personnel fail to assist or cooperate, or the plan is rejected under the specified approval provisions. The Adjudicating Authority must convert the process under Chapter II, determine the stage of commencement, appoint the resolution professional, declare a moratorium, and include prior costs as insolvency resolution process costs. The committee of creditors may also approve conversion by a sixty-six per cent vote, and pending avoidance or fraudulent trading proceedings continue after conversion. Act-Rules IBC Thu, 09 Apr 2026 10:37:48 +0530 https://www.taxtmi.com/acts?id=54066