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[EXCL] Government likely to finalise a Pre-Pack framework of resolution for MSMEs under IBC by this week
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 s...
Source: timesnownews.com