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COVID -19 Series

21 Apr
2021

Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021: Relief to MSMEs

The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 (“Ordinance”) was promulgated by the President of India on April 4, 2021. Considering the hardships faced, especially by Micro Small and Medium Enterprises (“MSMEs”), during the ongoing pandemic, the Pre-Packaged Insolvency Resolution Process (“PIRP”)  have been introduced vide the Ordinance for the