Pre-Pack Insolvency (PPIRP)

On the cases where we hold both dates, a pre-pack reached an approved plan in 318 days on average against 765 days for an ordinary resolution — roughly 2× faster, and the statutory clock for a pre-pack is 120 days against 330.



But measure the route against its own deadline and it has never once met it. Section 54D allows a pre-pack 120 days from commencement to plan submission. Of the 4 approved pre-packs where we hold both dates, none finished inside that window — the fastest took 204 days, 1.7× the limit, and the slowest 462. Every one of the 4 live pre-packs with a commencement date on record is already past it too, the oldest at 959 days — 8× the statutory clock. So the honest reading is not that pre-packs are fast. It is that they are faster than ordinary CIRP while still missing the deadline written for them.

Read that with the denominator in front of you: it rests on 4 pre-packs against 1,497 ordinary resolutions. The other 6 approved pre-packs here have no commencement date on record yet, so they are excluded rather than estimated. This is a direction, not a benchmark, and it will stay that way until the format is used more.

No plan economics. Every other outcome page here carries admitted claims, liquidation value and the haircut. This one does not, because IBBI does not publish those figures for Section 54A cases the way it does for ordinary CIRP — not one pre-pack in our records has them. We would rather leave the column out than print an empty one.

We track 16 of IBBI’s 18. Pre-pack status is read from IBBI’s per-company record, and we have only read it for companies already in our database, so 2 admitted pre-packs are not yet identified here. The gap is stated rather than hidden, and closes as the record is extended.

Spotted something wrong? Tell us — corrections are logged and dated.