2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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April 30, 2021
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March 31, 2021
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May 31, 2021
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June 30, 2021
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Detailed explanation-1: -The government has decided to extend the suspension of the Insolvency and Bankruptcy Code (IBC) till March 31, 2021, to help businesses cope with the lingering difficulties posed by the COVID-19 pandemic, Union Finance Minister Nirmala Sitharaman said on Monday.
Detailed explanation-2: -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.
Detailed explanation-3: -Note: The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 were published vide Notification No. IBBI/2016- 17/GN/REG004, dated 30th November, 2016 in the Gazette of India, Extraordinary, Part III, Section 4, No.