Lok Sabha Confirms Imposition of President Rule in Manipur || AP HC: Court Possesses Limited Scope of Judicial Review in Transfer Cases on Account of Exigencies || Bom. HC: Can’t Evict Tenants Under Arbitration Act if Occupying Premises Falling under DA || Delhi High Court Passes Permanent Injunction in Favour of ‘Peak XV Partners’ || Bombay HC: Condition that Younger Candidate Would be Preferred Over Older Candidate Violates COI || Kar. HC Refuses to Entertain Petition Seeking Implementation of Circular Regarding Usage of ‘Dalit’ || Kar. HC: Rapido, Uber Can’t Operate in State Unless Relevant Guidelines Issued || Delhi HC: Preserve CCTV Footage When Complaint against Dept. Regarding Illegal Detention in Received || SC Refuses to Direct States to Establish Public Libraries || SC: To Prevent Re-Litigation, Quasi-Judicial Bodies are Bound by Principles of Res-Judicata

Government Notifies IBC Amendment Act, 2021 Enables Pre-Packaged Insolvency Resolution for MSMEs - (13 Aug 2021)

INSOLVENCY

Central Government has notified the Insolvency and Bankruptcy Code Amendment Act, 2021 which has enabled Pre-packaged Insolvency Resolution for MSMEs. The Bill introduces an alternate insolvency resolution process for micro, small, and medium enterprises (MSMEs), called the pre-packaged insolvency resolution process (PIRP). PIRP may be initiated only by debtors. The debtor should have a base resolution plan in place. During PIRP, the management of the company will remain with the debtor.

Tags : CENTRAL GOVERNMENT IBC AMENDMENT ACT 2021

Share :