2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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12
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5
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7
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4
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Detailed explanation-1: -The eight amendments to the Insolvency and Bankruptcy Code (IBC) will also aid decision-making in the case of bankrupt entities such as property developers, which have a large number of creditors, including homebuyers.
Detailed explanation-2: -2022; Insolvency and Bankruptcy Board of India (Corporate Insolvency Resolution Process for Corporate Persons) Regulation, 2016 – Third amendment in 2022, vide Notification No. IBBI/2022-23/GN/REG091, dated 13.09.
Detailed explanation-3: -VL regulations have been amended vide Notification dated 16th September, 2022 to allow only 90 days for completion of voluntary liquidation of companies where there are no creditors.
Detailed explanation-4: -The code aims to protect the interests of small investors and make the process of doing business less cumbersome. The IBC has 255 sections and 11 Schedules.
Detailed explanation-5: -The Insolvency and Bankruptcy Code, 2016 (IBC) is an Indian law which creates a consolidated framework that governs insolvency and bankruptcy proceedings for companies, partnership firms, and individuals.