IBC: Can pre-packaged insolvency resolution under IBC be helpful for MSMEs?
Synopsis The Code emphasizes on reorganization and insolvency resolution of the Corporate Debtor, while maximizing the value of assets of the CD and promoting entrepreneurship, availability of credit and balancing the interests of all stakeholders. iStock When the Code was introduced it took time to settle before it was used cautiously by the creditors especially operational creditors. The Government of India by way of an ordinance on April 4 2021 amended the Insolvency and Bankruptcy Code 2016 (Code) and has introduced the concept of Pre-Packaged Insolvency Process (PPIP) and the mode and ...
Source: indiatimes.com