Insolvency & Bankruptcy Code 2016 Overview

What is the role of the Insolvency and Bankruptcy Board of India (IBBI)?

• Regulatory authority of IPA, IP, IU & RVO

• Exercise jurisdiction during insolvency

• Appoint IPs

• Collect financial information

Insolvency Professionals Agencies (IPA) are specialized bodies entrusted with the task of ________.

• Appointing IPs

• Registration and governance of IPs

• Collecting financial data

• Training valuers

How many NCLAT Benches are mentioned in the IBC Eco System?

• 1

• 2

• 3

• 4

What is the main code governing the adjudicating authority in the provided framework?

• Insolvency and Bankruptcy Code

• Civil Procedure Code

• Criminal Procedure Code

• Company Law Code

In the framework, which tribunal is responsible for adjudicating corporate insolvency resolution?

• National Company Law Tribunal

• Debt Recovery Tribunal

• Supreme Court of India

• High Court

Fill in the blank: The _______ acts as the appellate authority for the Debt Recovery Tribunal.

• National Company Law Appellate Tribunal

• Debt Recovery Appellate Tribunal

• Supreme Court of India

• High Court

The Corporate Insolvency Resolution Process (CIRP) commenced in which month and year?

• May-2016

• Dec-2016

• Dec-2019

• May-2019

Fill in the blank: The number of CIRP cases withdrawn under section 12A is ______.

• 8002

• 1120

• 1221

• 1068

In the period 2016-17, how many CIRPs were initiated by FC?

• 8

• 7

• 22

• 37

Fill in the blank: The total number of CIRPs initiated in 2020-21 was ____.

• A) 536

• B) 707

• C) 888

• D) 1262