JSA Update – Insolvency Law

Pre-Packaged Insolvency Resolution Process

On April 5, 2021, the President of India promulgated the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 (the “Ordinance”) amending the Insolvency and Bankruptcy Code, 2016 (“IBC”). The Ordinance has brought in several amendments including a new chapter on pre-packaged insolvency resolution process (“Pre-Pack Process”).

Section 10A of the IBC had suspended the initiation of corporate insolvency resolution process (“CIRP”) in respect of defaults during the period of 1 (one) year beginning from March 25, 2020 under Sections 7, 9 and 10 of the IBC (“Suspension Period”).

For an insight into the key features, please refer to the below document.

Your web browser doesn’t have a PDF plugin.
Instead you can click here to
download the Newsletter.

POST TAGS

Newsletters & Updates

  • Updates
  • May 5, 2021

JSA Update - General Corporate

  • Updates
  • April 21, 2021

JSA Update - Insolvency Law

  • Updates
  • April 2, 2021

JSA Update - FinTech

View More