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National News

The Economic Times

National / The Economic Times

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Faster insolvency process proposed with creditor-led resolution framework

A new Creditor-initiated Insolvency Resolution Process (CIIRP) aims to expedite debt resolution, allowing financial creditors with 51% debt share to initiate proceedings. This bypasses the NCLT admission process, with the tribunal's role limited to moratorium and plan approval. The entire process is targeted for completion within 150 days, a significant reduction from the current 330 days.

17 Apr 2026 5:30 am