{"id":341403,"date":"2025-12-13T03:50:14","date_gmt":"2025-12-13T03:50:14","guid":{"rendered":"https:\/\/peraltafinancing.com\/uncategorized\/what-is-pre-packed-insolvency-resolution-process-cs-riya-khurana\/"},"modified":"2025-12-13T03:50:14","modified_gmt":"2025-12-13T03:50:14","slug":"what-is-pre-packed-insolvency-resolution-process-cs-riya-khurana","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=341403","title":{"rendered":"WHAT IS PRE-PACKED INSOLVENCY RESOLUTION PROCESS? \u2013 CS Riya Khurana"},"content":{"rendered":"


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Ministry of law and justice, legislative Department,<\/strong> which has introduced a system of Pre-Packed Insolvency Resolution Process through Insolvency and Bankruptcy code, (Amendment) Ordinance, 2021. Further, <\/em><\/strong>MCA Notification dated 9th<\/sup> April, 2021, mentioned sections, sub-sections and clauses under Chapter III-A of part II of the Code.<\/p>\n

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  1. Firstly, we need to know that, WHAT IS CORPORATE INSOLVENCY RESOLUTION PROCESS (CIRP)?<\/strong><\/li>\n<\/ol>\n

    Corporate Insolvency Resolution Process (CIRP) refers to a process, as laid down in the IBC, 2016 for reviewing the Company (corporate debtor) from its position of insolvency.<\/p>\n

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    1. HOW TO GO FOR PRE-PACKED INSOLVENCY RESOLUTION PROCESS?<\/strong><\/li>\n<\/ol>\n

      We need to file an Application under section 54C (1) of the IBC, 2016, before the Adjudicating Authority.<\/p>\n

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      1. WHAT IS THE PROCESS FOR FILING AN APPLICATION-IN ELECTRONIC FORM?<\/strong><\/li>\n<\/ol>\n

        \u00a0<\/strong>Step-1: <\/strong>Applicant (Corporate Applicant) shall Submit an application in electronic form, under section 54C (1) of the IBC, 2016 in Form 1, <\/strong>for initiating the process of Pre-Packed Insolvency Resolution Process, along with the fees of Rs. 15,000\/-.<\/p>\n

        \u00a0 \u00a0 \u00a0 \u00a0Documents to be attached in Form 1: <\/strong><\/p>\n