Published Paper Details:

Insolvency and Bankruptcy code 2016 is a law for the resolution of Non-performing Assets. It covers all the business houses, including companies, limited liability partnerships, partnerships, proprietorship firms, and individuals. Since the law is very new, it is going through many amendments on it to make the resolution process business-friendly and straightforward. One of the recent amendments made in the Insolvency and Bankruptcy Code is the addition of provision of the Pre-packaged Insolvency Resolution Process. The Pre-packaged Insolvency Resolution Process is one of the processes out of the two broad resolution processes. The Pre-packaged insolvency resolution procedure was introduced in April 2021 to solve the problem of Non-performing Assets in the MSMEs Sector. This paper will explain the whole mechanism of the Pre-packaged insolvency resolution procedure and compare the process with the other one, which is the Corporate insolvency resolution procedure. The paper will also envisage the effect of the process in the resolution of NPA in the MSMEs Sector.