CURRENT AFFAIRS

Detailed explanation-1: -It was established in 2008 at Manesar , Haryana. The campus is spread across 14 Acres. It houses the training academy of top Cadre of Indian Corporate Law Service. It is the only institution in the country authorized by IBBI to run its Flagship Graduate Insolvency Program.

Detailed explanation-2: -The Insolvency and Bankruptcy Board of India was established on 1st October 2016 under the Insolvency and Bankruptcy Code, 2016 (Code).

Detailed explanation-3: -It writes and enforces rules for processes, namely, corporate insolvency resolution, corporate liquidation, individual insolvency resolution and individual bankruptcy under the Code.

Detailed explanation-4: -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.