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Chapter 7 Overview

Chapter 7 outlines the Pre-Packaged Insolvency Resolution Process under the Insolvency and Bankruptcy Code of 2016. It details the eligibility of corporate debtors, the duties of insolvency professionals, and the procedural steps involved from initiation to approval of the resolution plan. Additionally, it specifies the management of the corporate debtor and the roles of the committee of creditors during the process.

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4 views1 page

Chapter 7 Overview

Chapter 7 outlines the Pre-Packaged Insolvency Resolution Process under the Insolvency and Bankruptcy Code of 2016. It details the eligibility of corporate debtors, the duties of insolvency professionals, and the procedural steps involved from initiation to approval of the resolution plan. Additionally, it specifies the management of the corporate debtor and the roles of the committee of creditors during the process.

Uploaded by

harshitadaruka1111
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Chapter 7: PRE-PACKAGED INSOLVENCY RESOLUTION PROCESS

Relevant Sections Sections 54A to 54P (Chapter III A of Part II of IBC 2016)
Relevant Regulation Insolvency and Bankruptcy Board of India (Pre - packaged Insolvency
Resolution Process)Regulations, 2021

54 A. Corporate debtors eligible for pre-packaged insolvency resolution process.


Regulation 7: Eligibility for Resolution Professional

54 B. Duties of insolvency professional before initiation of pre-packaged insolvency resolution process.


54 C. Application to initiate pre-packaged insolvency resolution process.
54 D. Time-limit for completion of pre-packaged insolvency resolution process.
54 E. Declaration of moratorium and public announcement during pre-packaged insolvency resolution
process.
54 F. Duties and powers of resolution professional during pre-packaged insolvency resolution process.
54 G. List of claims and preliminary information memorandum.
54 H. Management of affairs of corporate debtor.
54 I. Committee of creditors.
54 J. Vesting management of corporate debtor with resolution professional.
54 K. Consideration and approval of resolution plan.
54 L. Approval of resolution plan.
54 M. Appeal against order under section 54L.
54 N. Termination of pre-packaged insolvency resolution process.
54 O Initiation of corporate insolvency resolution process.
54 P. Application of provisions of Chapters II, III, VI, and VII to this Chapter.

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