Understanding The Pre-Pack Insolvency Process

Ancoraa Resolution21 Dec, 2023Business

The pre-pack insolvency resolution process (PPIRP) was introduced in the midst of the COVID-19 pandemic in April 2021 to reduce the burden of MSMEs. The out-of-court settlement mechanism simplifies the traditional Corporate Insolvency Resolution Process (CIRP) by reducing the requirement for multiple time-consuming processes.