New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    The goal of the Insolvency and Bankruptcy code is to

    address insolvencies in a timely way; the evaluation and viability determination must be done within how many days
    A 30 Correct Answer Incorrect Answer
    B 60 Correct Answer Incorrect Answer
    C 120 Correct Answer Incorrect Answer
    D 150 Correct Answer Incorrect Answer
    E 180 Correct Answer Incorrect Answer

    Solution

    The goal of the IBC is to address insolvencies in a timely way; the evaluation and viability determination must be done within 180 days. The Company is subject to a 180-day moratorium (which can be extended up to 270 days). The resolution time frame for startups and small businesses is 90 days, which can be extended by 45 days.

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