New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    In the questions given below, a blank has been provided

    for each and needs to be filled with the appropriate word. Choose the best option among the given ones. The IBC provides for a time limit of 180 days once a case of default is brought to the National Company Law Tribunal, following a joint decision of creditors accounting for a _______ share of claims on a company.
    A Auxiliary Correct Answer Incorrect Answer
    B Dominant Correct Answer Incorrect Answer
    C Minority Correct Answer Incorrect Answer
    D Humble Correct Answer Incorrect Answer
    E Inconspicuous Correct Answer Incorrect Answer

    Solution

    It conveys the idea that the time limit is triggered when there's a joint decision by the creditors who hold a substantial or controlling influence (dominant share) of claims on the company.

    Practice Next

    Relevant for Exams: