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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.
Which of the following is not a Insurance Intermediary?
What is the significance of "Section 64 VB" of the Insurance Act 1963?
The practice of buying or selling of a security by someone who has access to material nonpublic information about the security, is termed as?
An individual who may become eligible to receive payment due to will, life insurance policy, retirement plan, annuity, trust, or other contract is known...
The conversion of insurance companies from mutual companies owned by their policyholders into publicly traded stock companies is termed as?
What does the term "insured" refer to in insurance?
What is the ceiling of annual premium in a Micro Variable Insurance Product?
General insurance public sector association (GIPSA) is an association of four public sector general insurance companies?
What is NOT an element of an insurance contract?
A person invests Rs. 100000 in an insurance policy, 40000 Rs in a PPF account. He also invests fees of his two children 40000rs each. Then how...