B.A. LL.B. (Five Years) Sem 8 Bankruptcy Laws May 2025 60/40 Question Paper - Mumbai University | munotes

Questions asked in this paper

• N.B: 1. Please check whether you have got the right question paper. 2. Answer all questions. 3. Total marks are indicated in the right.

Q.1 Q.1: Answer any six questions in one or two sentences (12 Marks - 2 marks each)

1. (a) Who is an Indigent person?
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2. (b) State any two duties of Debtors.
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3. (c) Who can file an application in CIRP
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4. (d) Define secured creditor
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5. (e) Who is Bankruptcy trustee?
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6. (f) What is an onerous property?
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7. (g) Explain the term Moratorium.
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8. (h) What is the time period within which creditor can file an appeal against the decision of Liquidator.
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9. (i) Who is the Judgment debtor?
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10. (j) What is a going concern?
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Q.2 Q.2: Write short notes, any two (12 Marks - 6 marks each)

1. (a) CIRP
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2. (b) Objectives of IBC
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3. (c) Insolvency Professionals
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4. (d) Registered Valuers
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Q.3 Q.3: Answer any two of the following (12 Marks - 6 marks each)

1. (a) A is the Husband of B, A was adjudicated insolvent. B the wife objected the proceeding taken up by the official Assignee to possess one particular property as is was a benami purchase i.e. wife's name this was done with an ulterior motive to avoid the insolvency proceedings and save it. The wife contended that it was her personal property and her husband has nothing to do with that. Decide the case
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2. (b) A person makes an application to the Insolvency and Bankruptcy board of India to carry on its business as information utility. After receiving application the board acknowledge within seven days of its receipt, later the applicant carries on its business as information utility without issuance of a certificate of registration by the board. Whether the applicant can do like that? Advise him.
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3. (c) Give a detailed analysis with respect to CIRP timelines with important judgment given by the Supreme Court of India.
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4. (d) What important provisions with respect to the powers and functions of the NCLT were provided by the Supreme Court in the landmark judgment by the Innoventive Industries Limited v/s ICICI Bank.
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Q.4 Q.4: Answer any two in detail (24 Marks - 12 marks each)

1. (a) Explain in detail the process of liquidation as per IBC code.
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2. (b) Explain in detail the procedure of the Fast Track Corporate insolvency resolution process.
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3. (c) Write in details the offences and penalties provided under IBC
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4. (d) Write in details the scope, powers and function of various Adjudicating and Appellate authorities under IBC code.
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