The key highlights are as follows: 1. The resolution plan now includes the restructuring of the corporate debtor, 2. Obligation of the adjudication authority to respond within 14 days in writing. 3. Corporate Insolvency Resolution Process (CIRP) is now required to be completed within 330 days from the insolvency commencement date. 4. Authorized Representatives of financial creditors can now cast their vote on behalf of all financial creditors. 5. Resolution plan will be binding on all the stakeholders, including Central Govt., State Govt. or any local authority. 6. Committee of Creditors may now take the decision to liquidate the corporate debtor.
https://ibbi.gov.in//uploads/legalframwork/630af836c9fbbed047c42dbdfd2aca13.pdf
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