INDIA Law and Practice Contributed by: Utsav Johri, Sucheta Bhattacharya and Nishal Makharia, JSA Advocates & Solicitors
Certain amendments to the IBC propose to introduce a creditor-initiated insolvency resolution process for certain categories of corporate debtors (as may be specified by the central government), enabling eligible financial creditors to commence insolvency without court admission. It is anticipated that the above pre-packaged insol - vency resolution process for MSMEs will soon be introduced for other companies under the IBC.
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