Q Why is it in News?
The central government has promulgated an ordinance allowing the use of pre-packs as an insolvency resolution mechanism for MSMEs with defaults up to Rs 1 crore, under the Insolvency and Bankruptcy Code.
Q What are Pre-packs?
Q What are Benefits of pre-packs over the CIRP?
Q What is the key motivation behind the introduction of the pre-pack?
Q How are creditors protected?
Q What is Swiss Challenge mechanism?