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Pre-pack scheme for insolvency banks on fair debtor-creditor ties

The journey of a pre-pack starts with an informal understanding, engages stakeholders, and ends with a judicial blessing of the outcome

Topics
Insolvency and Bankruptcy Code | Banking sector

Ruchika Chitravanshi 



LIC IPO
Illustration by Binay Sinha

The pre-packaged scheme, touted as the next stage in the evolution of the (IBC), 2016, will attempt a balancing act, as lawmakers put together an informal arrangement with a debtor-in-possession and creditor-in-control model, as suggested in the draft proposal of the sub-committee of Insolvency Law Committee.

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First Published: Wed, February 10 2021. 06:10 IST

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