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To make surety bond business more attractive, the government is going to make relevant changes in the Insolvency and Bankruptcy Code (IBC) to consider insurers as financial creditor in case of default of infra projects. The surety bond issued by a general insurance company is a three-party contract by which one party (the surety) guarantees the performance or obligations of a second party (the principal) to a third party (the obligee). The surety is a company that provides the financial guarantee to the obligee (usually a government entity) that the principal (business owner) will fulfil their obligations. The Ministry of Corporate Affairs is looking into concerns raised by the insurers that they should have resort to recovery on par with the banks as forwarded by the Department of Financial Services under the finance ministry. Thus, relevant changes would be made in IBC to provide financial creditor status to the insurer under the resolution process.
Statements:
All schools are colleges.
No college is an institute.
Conclusions:
I. Some colleges are not institutes.
Statements:
8% rays are satellites.
All satellites are planets.
A few stars are satellites.
Conclusions:
I. All stars...
Statements:
All Pearl are Flower.
Some Bud are Pearl.
No Flower is a Stem.
Conclusions:
I. Some Bud are Flower is a p...
Statements: A’s @ P’s A’s % Y’s T’s # Y’s Z’s & A’s
Conclusion:
I. Y’s $ Z’s
II. T’s % P’s
...
Statements:
A few Red is Green.
60% Black is Green.
Only Green is Pink.
Conclusion:
I. No Pink is Black.
II. Some Black is Red.
Statement: All grams are metres.
No metre is a litre.
Conclusions: I. Some litres are ...
Statements: All medicine are tablets.
All pills are tablets.
All tablets are tonics.
Conclusions: I. All medicine are tonic...
In the following question below are given some statements followed by some conclusions based on those statements. Taking the given statements to be tru...
Statements:
All districts are towns.
No town is a city.
All cities are centres.
Conclusion:
I. Some towns are dis...