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Tag Archive for "corporate-insolvency-resolution-processes" -

CentrikBlogscorporate insolvency resolution processes

Tag: corporate insolvency resolution processes

Insolvency Resolutions:  A special case for MSMEs

Posted by AdminPosted on March 15, 2023March 17, 20230 CommentsCategories Authentic Legal Advice, Corporate Litigation-All In Way, Debt Recovery Management, Insolvency & Bankruptcy Code 2016, Legal AdvisoryTags corporate insolvency resolution processes, insolvency issues, insolvency of MSMEs in India, insolvency proceedings, insolvency proceedings against MSMEs, insolvency process against MSME, MSMEs under the IBC, pre-packaged insolvency resolution process (PPIRP) for MSMEs

The government has introduced the pre-packaged insolvency resolution process (PPIRP) for MSMEs, which allows them to initiate an insolvency process with the approval of two-thirds of their creditors.

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  • CIRP proceedings could be initiated against both corporate co-borrowers, but the recovery of the same amount could not be made from both parties: SC March 23, 2023
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