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Recently the central government promulgated an ordinanceallowing the use of pre-packs as an insolvency resolutionmechanism for Micro, Small and Medium Enterprises (MSMEs) with defaults up to Rs 1 crore, under the Insolvency and Bankruptcy Code. Consider the following statements regarding Pre-packs.1. A pre-pack is the resolution of the debt of a distressed company through an agreement between creditors and investors wherein creditors will agree to terms with a potential investor and seek approval of the resolution plan from the National Company Law Tribunal (NCLT).2. A resolution professional takes control of management of the debtor in the case of pre-packs.3. The pre-pack mechanism allows for a swiss challenge for any resolution plans.Which of the above statements is/are correct?a)1 onlyb)1, 3c)2, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Recently the central government promulgated an ordinanceallowing the use of pre-packs as an insolvency resolutionmechanism for Micro, Small and Medium Enterprises (MSMEs) with defaults up to Rs 1 crore, under the Insolvency and Bankruptcy Code. Consider the following statements regarding Pre-packs.1. A pre-pack is the resolution of the debt of a distressed company through an agreement between creditors and investors wherein creditors will agree to terms with a potential investor and seek approval of the resolution plan from the National Company Law Tribunal (NCLT).2. A resolution professional takes control of management of the debtor in the case of pre-packs.3. The pre-pack mechanism allows for a swiss challenge for any resolution plans.Which of the above statements is/are correct?a)1 onlyb)1, 3c)2, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Recently the central government promulgated an ordinanceallowing the use of pre-packs as an insolvency resolutionmechanism for Micro, Small and Medium Enterprises (MSMEs) with defaults up to Rs 1 crore, under the Insolvency and Bankruptcy Code. Consider the following statements regarding Pre-packs.1. A pre-pack is the resolution of the debt of a distressed company through an agreement between creditors and investors wherein creditors will agree to terms with a potential investor and seek approval of the resolution plan from the National Company Law Tribunal (NCLT).2. A resolution professional takes control of management of the debtor in the case of pre-packs.3. The pre-pack mechanism allows for a swiss challenge for any resolution plans.Which of the above statements is/are correct?a)1 onlyb)1, 3c)2, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer?.

Solutions for Recently the central government promulgated an ordinanceallowing the use of pre-packs as an insolvency resolutionmechanism for Micro, Small and Medium Enterprises (MSMEs) with defaults up to Rs 1 crore, under the Insolvency and Bankruptcy Code. Consider the following statements regarding Pre-packs.1. A pre-pack is the resolution of the debt of a distressed company through an agreement between creditors and investors wherein creditors will agree to terms with a potential investor and seek approval of the resolution plan from the National Company Law Tribunal (NCLT).2. A resolution professional takes control of management of the debtor in the case of pre-packs.3. The pre-pack mechanism allows for a swiss challenge for any resolution plans.Which of the above statements is/are correct?a)1 onlyb)1, 3c)2, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Current Affairs. Download more important topics, notes, lectures and mock test series for Current Affairs Exam by signing up for free.

Here you can find the meaning of Recently the central government promulgated an ordinanceallowing the use of pre-packs as an insolvency resolutionmechanism for Micro, Small and Medium Enterprises (MSMEs) with defaults up to Rs 1 crore, under the Insolvency and Bankruptcy Code. Consider the following statements regarding Pre-packs.1. A pre-pack is the resolution of the debt of a distressed company through an agreement between creditors and investors wherein creditors will agree to terms with a potential investor and seek approval of the resolution plan from the National Company Law Tribunal (NCLT).2. A resolution professional takes control of management of the debtor in the case of pre-packs.3. The pre-pack mechanism allows for a swiss challenge for any resolution plans.Which of the above statements is/are correct?a)1 onlyb)1, 3c)2, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Recently the central government promulgated an ordinanceallowing the use of pre-packs as an insolvency resolutionmechanism for Micro, Small and Medium Enterprises (MSMEs) with defaults up to Rs 1 crore, under the Insolvency and Bankruptcy Code. Consider the following statements regarding Pre-packs.1. A pre-pack is the resolution of the debt of a distressed company through an agreement between creditors and investors wherein creditors will agree to terms with a potential investor and seek approval of the resolution plan from the National Company Law Tribunal (NCLT).2. A resolution professional takes control of management of the debtor in the case of pre-packs.3. The pre-pack mechanism allows for a swiss challenge for any resolution plans.Which of the above statements is/are correct?a)1 onlyb)1, 3c)2, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Recently the central government promulgated an ordinanceallowing the use of pre-packs as an insolvency resolutionmechanism for Micro, Small and Medium Enterprises (MSMEs) with defaults up to Rs 1 crore, under the Insolvency and Bankruptcy Code. Consider the following statements regarding Pre-packs.1. A pre-pack is the resolution of the debt of a distressed company through an agreement between creditors and investors wherein creditors will agree to terms with a potential investor and seek approval of the resolution plan from the National Company Law Tribunal (NCLT).2. A resolution professional takes control of management of the debtor in the case of pre-packs.3. The pre-pack mechanism allows for a swiss challenge for any resolution plans.Which of the above statements is/are correct?a)1 onlyb)1, 3c)2, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Recently the central government promulgated an ordinanceallowing the use of pre-packs as an insolvency resolutionmechanism for Micro, Small and Medium Enterprises (MSMEs) with defaults up to Rs 1 crore, under the Insolvency and Bankruptcy Code. Consider the following statements regarding Pre-packs.1. A pre-pack is the resolution of the debt of a distressed company through an agreement between creditors and investors wherein creditors will agree to terms with a potential investor and seek approval of the resolution plan from the National Company Law Tribunal (NCLT).2. A resolution professional takes control of management of the debtor in the case of pre-packs.3. The pre-pack mechanism allows for a swiss challenge for any resolution plans.Which of the above statements is/are correct?a)1 onlyb)1, 3c)2, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Recently the central government promulgated an ordinanceallowing the use of pre-packs as an insolvency resolutionmechanism for Micro, Small and Medium Enterprises (MSMEs) with defaults up to Rs 1 crore, under the Insolvency and Bankruptcy Code. Consider the following statements regarding Pre-packs.1. A pre-pack is the resolution of the debt of a distressed company through an agreement between creditors and investors wherein creditors will agree to terms with a potential investor and seek approval of the resolution plan from the National Company Law Tribunal (NCLT).2. A resolution professional takes control of management of the debtor in the case of pre-packs.3. The pre-pack mechanism allows for a swiss challenge for any resolution plans.Which of the above statements is/are correct?a)1 onlyb)1, 3c)2, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice Current Affairs tests.