Question
Which of the following shall not be included in the
liquidation estate assets?Solution
IBC The following shall not be included in the liquidation estate assets and shall not be used for recovery in the liquidation: — (a) assets owned by a third party which are in possession of the corporate debtor, including— (i) assets held in trust for any third party; (ii) bailment contracts; (iii) all sums due to any workman or employee from the provident fund, the pension fund and the gratuity fund; (iv) other contractual arrangements which do not stipulate transfer of title but only use of the assets; and (v) such other assets as may be notified by the Central Government in consultation with any financial sector regulator; (b) assets in security collateral held by financial services providers and are subject to netting and set-off in multi-lateral trading or clearing transactions; (c) personal assets of any shareholder or partner of a corporate debtor as the case may be provided such assets are not held on account of avoidance transactions that may be avoided under this Chapter; (d) assets of any Indian or foreign subsidiary of the corporate debtor; or (e) any other assets as may be specified by the Board, including assets which could be subject to set-off on account of mutual dealings between the corporate debtor and any creditor.
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:
All Ray are Colour.
No Colour is Cloud.
Some Cloud are Rain.
Conclusions:
I. No Ray is Rain.
II. S...
Select the option that is related to third letter-cluster in the same way as the second letter-cluster is related to the first letter-cluster.
EX...
In the following question, three statements are given each followed by four conclusions I, II, III and IV. You have to consider the statements to be tru...
Statements:Â Â Â Â Â Â Â Â Â Â No cow is a bull.
No bull is a goat.
                               Some g...
Statements:
Some Rank is Scores.
All Scores is Subjects.
Only Subjects is Letter.
Conclusions:
I. Some Letter is not ...
Statements:
coins - mines.
cakes - mines.
hats - coins.
mines + ropes.
Conclusions:
I. ropes + hats
II....
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 t...
Statements:
Only a few spiders are insects.
All insects are ant.
Some ant are pesticides.
Only a few pesticides are bees.
Statement
Only a few Colour is Animals
Some Animals is Birds
All Birds is Fruit
Conclusion
I) Some Fruit is Anim...