Question
Who are the persons who are not eligible to make an
application for the initiation of the corporate insolvency resolution process under the IBC?Solution
Section 11-Persons not entitled to make application: The following persons shall not be entitled to make an application to initiate corporate insolvency resolution process under this Chapter, namely:— (a) a corporate debtor undergoing a corporate insolvency resolution process or a prepackaged insolvency resolution process; or (aa) a financial creditor or an operational creditor of a corporate debtor undergoing a prepackaged insolvency resolution process; or (b) a corporate debtor having completed corporate insolvency resolution process twelve months preceding the date of making of the application; or (ba) a corporate debtor in respect of whom a resolution plan has been approved under Chapter III-A, twelve months preceding the date of making of the application; or (c) a corporate debtor or a financial creditor who has violated any of the terms of resolution plan which was approved twelve months before the date of making of an application under this Chapter; or (d) a corporate debtor in respect of whom a liquidation order has been made.
Statements:
All Railway is Great
Only a few Great is Cheap
No Cheap is Platform
Conclusions:
I. All Railway can be Ch...
 Two statements are given followed by two conclusions numbered I and II. Assuming the statements to be true, even if they seem to be at variance with ...
Read the given statements and conclusions carefully. Assuming that the information given in the statements is true, even if it appears to be at varianc...
Statements: Some doors are windows.
All houses are windows.
No mirror is a door.
Conclusions: I. Some doors are mirror
...Conclusions:
I. Some Flats are Buildings.
II. Some Apartments are Flats.
III. No Building is a Roof.
Statements:
In the question below some statements are given followed by three conclusions I II and III. You have to take the given statements to be true even if th...
In the question below there are three statements followed by three conclusions I, II and III. You have to take the three given statements to be true e...
Statements: No strategy is a motivation.
All motivations are training.
Conclusions: I. Some strategies are trainings.
II. Some trai...
In the question below there are three statements followed by two conclusions I and II. You have to take the three given statements to be true even if t...
Statement:
Some ducks are gooses.
All gooses are turkey.
No duck is hen.
No hens are parrot.
Conc...
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