Which of the following statements is/are correct with reference to the Insolvency and Bankruptcy Code (Amendment) Bill, 2021?

Daily Current Affairs Quiz 29 July 2021

Which of the following statements is/are correct with reference to the Insolvency and Bankruptcy Code (Amendment) Bill, 2021?

A. Lok Sabha passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2021.

B. Lok Sabha has proposed ‘pre-packs’ or Pre-packaged Insolvency Resolution Process (PIRP).

C. Both A & B

D. None of these

Explanation:

Lok Sabha passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2021 and proposed ‘pre-packs’ or Pre-packaged Insolvency Resolution Process (PIRP) as an insolvency resolution mechanism for Micro, Small and Medium Enterprises (MSMEs).

Gkseries: Gkseries.com is a premier website to provide complete solution for online preparation of different competitive exams like UPSC, SBI PO, SBI clerical, PCS, IPS, IAS, IBPS PO, IBPS Clerical exam etc. & other graduate and post-graduate exams. Learn more on about us page