Question
Which of the following is not an objective of the
Insolvency and Bankruptcy Code, 2016?Solution
The objective behind Insolvency and Bankruptcy Code, 2016 is to create a more effective and time-bound insolvency resolution process. It aims to address several key issues in the previous bankruptcy and insolvency framework such as: · It consolidates and amends various existing laws related to insolvency and bankruptcy, providing a unified and comprehensive legal framework for resolution and liquidation. · To provide a time-bound resolution process for distressed companies, preventing the undue delay in insolvency proceedings · To maximize the value of assets of insolvent companies and ensure that creditors, including operational creditors, receive a fair and equitable share of the proceeds. · To preserve the viable parts of a business while dealing with non-viable parts in an orderly manner. The emphasis is on keeping the business as a going concern as far as possible. · To balance the interests of all stakeholders, including creditors, debtors, and shareholders, by providing a structured process for insolvency resolution. · To encourage entrepreneurship and minimize the stigma associated with business failure.
Who is the Minister of Labor and Employment for the state Uttar Pradesh?
Which Indian state led the 6th edition of the State Food Safety Index for 2023-24?
The Reserve Bank had announced the constitution of an Expert Committee to make recommendations on the required financial parameters to be factor...
What is the official currency of Bangladesh?
Which is the longest beach in India?
पटवों की हवेली स्थित है ?
Shares of large, medium and small caps are traded at BSE Indonext
D Gukesh is renowned for his achievements in which field?
In which of the following 'The Chamera Dam' is located at?
Consider the following statements:
I. The Khelo India Youth Games (KIYG) 2025 will be held in Bihar for the first time from May 4 to May 15, 2025...