IBC, 2016

Who is the present chairperson of the Insolvency & Bankruptcy Board of India?

• Mr. Rajeev Dixit

• Mr. S Jaishankar

• Mr. M S Sahoo

• Mr. Ravi Mittal

‘Corporate Insolvency Initiation’ date means....

• The date when the Adjudicating Authority makes award.

• The date when the Resolution Professional is appointed by the Committee of Creditors.

• On the date of submitting the application by FC to NCLT

• The date on which the application is admitted by NCLT

Which of the following is the Information Utility registered with IBBI?

• CIBIL

• NeSL

• NPCI

• NCLT

How much percentage of voting share is required in order to extend the timeline in Case CIRP is not completed within 180 days (subject to final approval by the Adjucating Authority)?

• 60%

• 66%

• 75%

• 80%

Under which section of IBC, the COC can withdraw the CIRP application with voting percentage of 90%

• Section 32(A)

• Section 10(A)

• Section 53

• Section 12 (A)

Under which section of IBC, 2016, the moratorium period starts (i.e. no other legal action will be taken against the corporate debtor till the CIRP process) after admission of application by NCLT?

• Section-10A

• Section-9

• Section-14

• Section-32A

How many of the minimum home allottees are required to file the application against the Corporate Debtor with NCLT under IBC, 2016 (subject to minimum 10% of total home buyers of a Housing project)

• 10

• 50

• 100

• 200

What is the minimum amount of default required to become an MSME eligible under Pre-packaged Insolvency Resolution Process?

• Rs.10.00 lacs

• Rs.25.00 lacs

• Rs.50.00 lacs

• Rs.100.00 lacs

Which was the first case resolved under Corporate Insovency Resolution Process under IBC, 2016

• Manpasan Beverage

• K G Corporation

• Synergies-Dooray Automotive

• Rainbow Papers

Under which section of IBC, the successful bidders for a corporate debtor will be immune from any investigations conducted by an investigating agency (like Enforcement Directorate or other statutory bodies such as SEBI) under the Insolvency and Bankruptcy Code. The protection is provided when there is an approval of resolution plan and change of management of control.

• Section-10 (A)

• Section-32 (A)

• Section-12

• Section-54 (A)