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CS Professional · Corporate Restructuring, Valuation and Insolvency · Pre-Packaged Insolvency Resolution Process

In the PPIRP of Kaveri Engineering Pvt Ltd, the committee of creditors approves a resolution plan. By which day, counted from the pre-packaged insolvency commencement date, must the resolution professional submit the approved plan to the Adjudicating Authority?

The resolution professional must submit the CoC-approved resolution plan to the Adjudicating Authority within 90 days of the pre-packaged insolvency commencement date. This is the sub-limit under Section 54D(2), distinct from the overall 120-day completion period for the process.

  1. AWithin 30 days
  2. BWithin 60 days
  3. CWithin 90 daysCorrect
  4. DWithin 120 days

Explanation

Section 54D(2) requires the resolution professional to submit the CoC-approved plan to the Adjudicating Authority within 90 days from the commencement date. The 120 days is the overall completion limit, which is why it is a tempting but wrong choice here.

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