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Analytical Study of Pre-Packaged Insolvency

Author(s) Mr. Mahavir Khyalilal Mandot, Prof. Dr. Renupal Sood
Country India
Abstract When a company or individual is unable to make their debt payments on
schedule, they become insolvent. This frequently results in a bankruptcy
filing, which formally admits their incapacity to pay back obligations. A
framework for restructuring and resolving the insolvency of various
organizations, including businesses, partnerships, and people, is provided
under the Insolvency and Bankruptcy Code of 2016. The goal is to efficiently
restructure or resolve financial issues while balancing the interests of
stakeholders and optimizing asset value.
After payments are missing, the procedure usually begins when a qualified
party approves a request. The Code encourages a cooperative phase during
which parties cooperate to resolve financial strain without facing legal
consequences. Creditors assess if a company can recover and create a plan to
support it if it is unable to pay its debts. When it comes to dealing with
corporate insolvency, there are two primary approaches: (a) the Corporate
Insolvency Resolution Process (CIRP), which either ends in the liquidation of
the company or rehabilitates it through a resolution plan; and
(b) the PrePackaged Insolvency Resolution Process (PPIRP), which seeks to resolve the
situation either with a plan or without one.
Insolvency for an individual entails collaborating with creditors to establish a
repayment schedule overseen by a resolution specialist. In the event that the
repayment plan is unsuccessful, the debtor's assets are sold as part of the
bankruptcy process. When rehabilitation efforts are thought unlikely, the Code
also provides a fresh start procedure for those with limited resources.
Keywords Insolvency, Bankruptcy, Insolvency and Bankruptcy Code 2016 (IBC), Corporate Insolvency Resolution Process (CIRP), Pre-Packaged Insolvency Resolution Process (PPIRP).
Published In Volume 16, Issue 3, July-September 2025
Published On 2025-09-16
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