Nearly every third company admitted under the Code since its inception in 2016 has faced liquidation.
In the recent past, the exchanges have come across instances where the approved resolution plan provides for delisting of the company or write off/cancellation/extinguishment of existing equity shares without any payout or consideration to the existing shareholders.
The regulations detail the forms that stakeholders are required to use, and the manner of carrying out various tasks by them as part of the pre-pack resolution process.