CURRENT AFFAIRS

2019

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Who will head an 11-member working group constituted by the IBBI to study the concept of ’Group Insolvency’ and suggest a suitable framework?

A	U.K. Sinha
B	Mani Sharma
C	Pratiksha Jain
D	Surya Prakash A

Explanation:

Detailed explanation-1: -Dr. Navrang Saini has held the additional charge of Chairperson, Insolvency and Bankruptcy Board of India from forenoon of 13th October, 2021 to forenoon of 09th February, 2022.

Detailed explanation-2: -IBBI will have 10 members, including representatives from the Ministries of Finance, Law and corporate affairs, and the Reserve Bank of India.As per the statements on their official website, IBBI regulates a process as well as a profession.

Detailed explanation-3: -(c) one member to be nominated by the Reserve Bank of India, ex officio; (d) five other members to be nominated by the Central Government, of whom at least three shall be the whole-time members.

Detailed explanation-4: -Ravi Mittal, former Secretary Dept of Sports, has been appointed as the Chairman of Insolvency and Bankruptcy Board of India (IBBI). He will serve for a term of 5 years or till he is 65 yrs of age- whichever is early. The Chairman’s post at the IBBI fell vacant after M S Sahoo retired on Sept 30, 2021.

There is 1 question to complete.