Section 14 - Amendment of section 208 - Insolvency and Bankruptcy Code (Amendment) Act, 2021

Amendment of section 208. 14 . In section 208 of the principal Act,- (i) after clause (c), the following clause shall be inserted, namely:- (ca) pre-packaged insolvency resolution process under Chapter III-A of Part II; ; (ii) after sub-section (1), the following sub-section shall be inserted, namely:- (1A) Where the name of the insolvency professional proposed to be appointed as a resolution professional, is approved under clause (e) of sub-section (2) of section 54A, it shall be the function of such insolvency professional to take such actions as may be necessary to perform his functions and duties prior to the initiation of the pre-packaged insolvency resolution process under Chapter III-A of Part II. .