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Insolvency and Bankruptcy (prepackaged insolvency resolution process) Rules, 2021. - G.S.R. 256 (E) - Insolvency and Bankruptcy

Extract

..... ating to the pre-packaged insolvency resolution process. 3. Definitions. - (1) In these rules, unless the context otherwise requires, - (a) “Code” means the Insolvency and Bankruptcy Code, 2016 (31 of 2016); (b) “pre-packaged insolvency resolution process” means the insolvency resolution process for corporate persons under Chapter III-A of Part II of the Code; (c) “Form” means a Form appended to these rules; and (d) “identification number” means the limited liability partnership identification number or the corporate identity number, as the case may be, of the corporate person. (2) Unless the context otherwise requires, words and expressions used and not defined herein, shall have the same mea .....

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Insolvency and Bankruptcy (prepackaged insolvency resolution process) Rules, 2021. - G.S.R. 256 (E) - Insolvency and Bankruptcy

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..... THE CODE [Under section 54C of the Insolvency and Bankruptcy Code, 2016 read with rule 4 of the Insolvency and Bankruptcy (Pre-Packaged Insolvency Resolution Process) Rules, 2021] [Date] To, The National Company Law Tribunal [Address] From, [Name and address for correspondence of the corporate applicant] In the matter of [name of the corporate debtor] Subject: Application to initiate pre-packaged insolvency resolution process in respect of [name of the corporate debtor] under the Insolvency and Bankruptcy Code, 2016. Madam/Sir, We, hereby submit this application to initiate a pre-packaged insolvency resolution process in respect of [name of corporate debtor]. The details for the purpose of this application are set out below: Part-I PARTICUL .....

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Insolvency and Bankruptcy (prepackaged insolvency resolution process) Rules, 2021. - G.S.R. 256 (E) - Insolvency and Bankruptcy

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..... F PROPOSED RESOLUTION PROFESSIONAL 1. NAME, ADDRESS, EMAIL ADDRESS AND THE REGISTRATION NUMBER OF THE PROPOSED RESOLUTION PROFESSIONAL 2. NAMES OF THE CREDITORS, WHO HAVE APPROVED THE PROPOSAL FOR APPOINTMENT OF THE INSOLVENCY PROFESSIONAL AS THE RESOLUTION PROFESSIONAL UNDER SECTION 54A(2)(e) OF THE CODE AND VALUE OF THEIR DEBT IN PER CENT. OF DEBT OWED TO CREDITORS REQUIRED TO APPROVE SUCH PROPOSAL UNDER THAT SECTION Part-III PARTICULARS OF FINANCIAL/OPERATIONAL DEBT [CREDITOR WISE, AS APPLICABLE] 1. NAME(S) OF FINANCIAL/OPERATIONAL CREDITOR(S) 2. ADDRESS OF CORRESPONDENCE OF THE FINANCIAL/OPERATIONAL CREDITOR(S) 3. TOTAL DEBT RAISED AND AMOUNT IN DEFAULT 4. DATE WHEN THE FINANCIAL/OPERATIONAL DEBT WAS INCURRED 5. PARTICULARS OF SECURITY .....

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Insolvency and Bankruptcy (prepackaged insolvency resolution process) Rules, 2021. - G.S.R. 256 (E) - Insolvency and Bankruptcy

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..... t full name, address and occupation of deponent] do solemnly affirm and state as follows:- 1. [Name of the corporate debtor] is eligible for a pre-packaged insolvency resolution process in accordance with section 54A of the Insolvency and Bankruptcy Code, 2016(Code) and the associated rules and regulations. 2.[Name of proposed resolution professional], is fully qualified and permitted to act as a resolution professional for the pre-packaged insolvency resolution process of the corporate debtor, in accordance with the Code and the associated rules and regulations. 3.This application is being filed within the time period stipulated for the filing of this application in the declaration of the majority of directors or partners of the [name of t .....

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Insolvency and Bankruptcy (prepackaged insolvency resolution process) Rules, 2021. - G.S.R. 256 (E) - Insolvency and Bankruptcy

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..... tion 54A(2)(e) of the Code for appointment of the proposed resolution professional, as set out in Form P3 of the Insolvency and Bankruptcy Board of India (Pre-Packaged Insolvency Resolution Process) Regulations, 2021. Annex IV Written consent by the proposed resolution professional as set out in Form P1 of the Insolvency and Bankruptcy Board of India (Pre-Packaged Insolvency Resolution Process) Regulations, 2021. Annex V Declaration of the majority of the directors or partners of the corporate debtor, as the case may be, as referred to in section 54A(2)(f) of the Code as set out in Form P6 of the Insolvency and Bankruptcy Board of India (Pre-Packaged Insolvency Resolution Process) Regulations, 2021. Annex VI Copy of the special resolution o .....

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Insolvency and Bankruptcy (prepackaged insolvency resolution process) Rules, 2021. - G.S.R. 256 (E) - Insolvency and Bankruptcy

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..... days from the date of the application. Annex XIII A statement of affairs made up to a date not earlier than fourteen days from the date of application including the following document, namely:- (a) a list of the corporate debtor's assets and liabilities, divided into such categories as are appropriate for easy identification, with estimated values assigned to each category; (b) in the case of any property on which a claim against the corporate debtor is wholly or partly secured, particulars of the claim and its amount, and of how and when the security was created; (c) the names and addresses of the financial creditors and operational creditors of the corporate debtor, with the amounts due to each of them; (d) particulars of any debts o .....

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Insolvency and Bankruptcy (prepackaged insolvency resolution process) Rules, 2021. - G.S.R. 256 (E) - Insolvency and Bankruptcy

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