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MSMEs seek IBC suspension, but MCA reluctant

“We have received many representations from smaller units, requesting suspension of the Insolvency proceedings. ....

Anuradha Shukla , Sudhir Chandi , Punjab National Bank , News Service , Corporate Affairs Ministry , Pre Pack Insolvency Resolution Process , அனுராதா சுக்லா , ஸௌட்ஶ்ர் சந்தி , பஞ்சாப் தேசிய வங்கி , செய்தி சேவை , பெருநிறுவன வாழ்க்கைத்தொழில்கள் அமைச்சகம் ,

'Pre pack resolution process has some serious pitfalls' - The Hindu BusinessLine

‘Pre pack resolution process has some serious pitfalls’
May 11, 2021
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Financial institutions may forfeit the ‘golden hours’ available for putting the entity back on track, says Bijoy Pulipra
The Pre Pack Insolvency Resolution Process (PPIRP) as an alternative insolvency resolution process for MSMEs may not yet be an effective solution in the prevailing environment for a country such as ours beset as it is with an inadequate legal infrastructure and poor legal literacy.
Introduction of complex laws such as PPIRP could have ideally waited until these faculties mature enough to be able to handle the processes involved, says Bijoy Pulipra, Company Secretary and Insolvency Professional. ....

Bijoy Pulipra , National Company Law Tribunal , Pre Pack Insolvency Resolution Process , Company Secretary , Bankruptcy Board , Corporate Insolvency Resolution Process , Bankruptcy Code , Going Concern , Resolution Professional , Operational Creditors , Financial Creditors , Corporate Debtor , தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் , நிறுவனம் செயலாளர் , திவால்நிலை பலகை , பெருநிறுவன நொடித்துப்போனது தீர்மானம் ப்ரோஸெஸ் , திவால்நிலை குறியீடு , போகிறது அக்கறை , தீர்மானம் ப்ரொஃபெஶநல் , செயல்பாட்டு கடன் வழங்குநர்கள் , நிதி கடன் வழங்குநர்கள் , பெருநிறுவன கடனாளி ,