The Government of India had constituted a sub-committee of Insolvency Law Committee (ILC) on June 24, 2020 under the chairmanship of Dr. M. S. Sahoo, Chairperson, Insolvency and Bankruptcy Board of India (IBBI) to make recommendation on pre-pack insolvency resolution process (PPIRP).
- The sub-committee has recently submitted its report to the Government.
- The committee has recommended g a pre-pack framework within the basic structure of the Insolvency and Bankruptcy Code (IBC), 2016.
