Make pre-packaged resolution not scary

UPSC Practice recommends Make pre-packaged resolution not scary.

The pre-packaged insolvency resolution process (PIRP), a debtor-initiated reorganisation plan in advance with creditors on board, has reportedly not found many takers. That is unfortunate. PIRPs give MSMEs a window to rebuild themselves, leading to speedy deployment of assets trapped in failing companies, and preserves jobs.

Courtesy: ET Editorial-Opinion-Economic Times

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