Module: General Practice
Q98: What is the primary objective of the "Pre-Packaged Insolvency Resolution Process" (PPIRP) specifically designed for MSMEs?
✅ Correct Answer: C
🎯 Quick Answer:
Faster resolution with Debtor-in-Possession.Key Differentiator: In the standard Corporate Insolvency Resolution Process (CIRP), the Resolution Professional takes over management ("Creditor-in-Control"). In PPIRP, the MSME owners stay in charge ("Debtor-in-Possession") while a plan is negotiated.
Causal Reasoning: MSMEs are often dependent on the personal skills and relationships of the owners.
Removing them (as in standard CIRP) often destroys the business value.
PPIRP preserves this value while settling debts.