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What Does Insolvency Resolution Process (IRP) mean?
The Insolvency Resolution Process (IRP) is a legal framework under the Insolvency and Bankruptcy Code, 2016 (IBC) in India, designed to address the financial distress of companies and individuals unable to repay their debts.
The IRP aims to either revive or liquidate the entity while protecting the interests of creditors, employees, and other stakeholders.
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