IBBI REGULATIONS
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for VIDEO LECTURES OF ASHISH SIR (FOR ALL SCALES) — Bank Promotions.
One-liners from this chapter
Free sample — 8 of 65 rapid-fire Q&A cards.
What does IBBI stand for in the context of Indian insolvency law?
IBBI stands for Insolvency and Bankruptcy Board of India, the apex regulatory body established under the Insolvency and Bankruptcy Code, 2016 to oversee insolvency proceedings and professionals.
What is the full form of IBC enacted in India?
Insolvency and Bankruptcy Code, 2016
Under which Act was the Insolvency and Bankruptcy Board of India established?
IBBI was established under the Insolvency and Bankruptcy Code (IBC), 2016, which came into force on 28 May 2016.
Which court handles insolvency of individuals and partnership firms under IBC?
Debt Recovery Tribunal (DRT)
What is the primary mandate of the Insolvency and Bankruptcy Board of India?
IBBI regulates insolvency professionals, insolvency professional agencies, information utilities, and insolvency professional entities, and also oversees the Corporate Insolvency Resolution Process (CIRP).
What is the maximum extension allowed for CIRP beyond 180 days?
Maximum 90 additional days with NCLT approval
Who appoints the Chairperson of IBBI?
The Chairperson of IBBI is appointed by the Central Government and must be a person of ability, integrity, and standing with expertise in finance, law, management, or public administration.
What is the minimum voting threshold required for CoC to approve a resolution plan?
66 percent of voting share of financial creditors
Video classes for this chapter
More chapters in Latest Updates
Master the full VIDEOLECTURE syllabus
Every chapter of VIDEO LECTURES OF ASHISH SIR (FOR ALL SCALES) — videos, tests, notes and one-liner decks in one place.