Out-of-court, debtor-in-control process to hasten resolution of insolvency cases
According to Soumitra Majumdar, partner, JSA Advocates & Solicitors, the adjudicating authority is mandated to consider only instances of default for initiation of corporate insolvency resolution plan (CIRP). “Narrowing the scope of adjudication should significantly lessen the adjudication timelines and thus solve for the admission delays and the consequent value erosion,” Majumdar says. The eligibility…