Free Courses Sale ends Soon, Get It Now
GS PAPER III:
Context: The central government has promulgated an ordinance allowing the use of pre-packs as an insolvency resolution mechanism for Micro, Small and Medium Enterprises (MSMEs) with defaults up to Rs 1 crore, under the Insolvency and Bankruptcy Code.
What are pre-packs?
What are the benefits of pre-packs over the Corporate Insolvency Resolution Process (CIRP)?
What is the key motivation behind the introduction of the pre-pack?
address the entire liability side of the company.
How are creditors protected from misuse by promoters to simply reduce liabilities and retain control?
© 2024 iasgyan. All right reserved