AILET 2019 BA LLB Question Paper with answer key for online practice
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Question : 104 of 150
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As per the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, which of the following is true ?
I. Home Buyers Recognized as Financial Creditors.
II. Extension of the application of the Code to personal guarantors of Corporate Debtors and Proprietorship firms
III. A person shall be eligible to submit a resolution plan, if such person is an undischarged insolvent.
IV. A resolution applicant cannot withdraw a resolution application, from the National Company Law Tribunal (NCLT), after such process has been initiated.
I. Home Buyers Recognized as Financial Creditors.
II. Extension of the application of the Code to personal guarantors of Corporate Debtors and Proprietorship firms
III. A person shall be eligible to submit a resolution plan, if such person is an undischarged insolvent.
IV. A resolution applicant cannot withdraw a resolution application, from the National Company Law Tribunal (NCLT), after such process has been initiated.
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