A pre-packaged resolution through a corporate rescue is a famous legal framework in the US, UK and Canada. It is striking a balance to safeguard the interests and opinion of creditors and to maintain the business and assets of debtors. "We have feedback coming in from certain stakeholders that the plan may likely not be viable in India because of certain challenges. We are still deliberating on this and will amend certain terms to make it beneficial for both creditors and debtors." sources told ET NOW. There are numerable challenges to pre-packs in India. Since the resolution plan under a set up like pre-pack is not final, the further scope of negotiation could add a burden to the process. NCLT could reject the plan, and reopen the pre-pack thus leading to a long time taking process. Since pre-packs are worked out directly between creditors and debtors, the absence of an IRP could also lead to criticism towards this framework. With fewer powers, and no point of ownership, creditors may not be satisfied with the process and could directly file for a CIRP in NCLT.