The IBBI has issued the Information Brochure for Pre-Packaged Insolvency Resolution Process. The PPIRP is required to be completed within a period of 120 days from its commencement date. The RP shall either file the resolution plan for approval or an application for termination of PPIRP, with the AA within 90 days from the PPIRP commencement date. A model timeline along-with the activities to be undertaken and responsibilities of Resolution Professionals, creditors and corporate debtor is provided in the brochure.
It is designed for the sole purpose of creating awareness on the subject and must not be used as a guide for taking or recommending any action or decision, commercial or otherwise.
