Question
Insolvency and Bankruptcy Code was implemented through
an act of Parliament . It got Presidential assent in which year?Solution
Insolvency and Bankruptcy Code 2016 was implemented through an act of Parliament . It got Presidential assent in May 2016. IBC applies to companies, partnerships and individuals. It provides for a time- -bound process to resolve insolvency. When a default in repayment occurs, creditors gain control over debtor’s assets and must take decisions to resolve insolvency. Under IBC debtor and creditor both can start 'recovery' proceedings against each other.
The male sterility system which is widely used in hybrid seed production of crop plants is
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