The federal government has determined {that a} “pre-packaged” decision course of for micro, small, and medium enterprises (MSMEs) is required to complement the Insolvency and Chapter Code (IBC) and has now launched an Ordinance on that. It has been argued that the pandemic’s impact on MSMEs specifically makes such a hybrid pre-insolvency course of mandatory.
The bundle will retain the emphasis on timelines that was a part of the construction of the IBC, with the requirement that the method be accomplished inside 120 days. It has a considerably casual factor, in that the decision can be …
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First Revealed: Mon, April 05 2021. 22:59 IST