LL.B. (Three Years) Sem 4 Bankruptcy Laws Jun 2023 Set 2 60/40 Question Paper - Mumbai University | munotes

Questions asked in this paper

• N.B: 1. Please read the Instructions carefully. 2. Do not disclose your identity or mark any inscriptions, signages etc. anywhere on the answer sheets.

SECTION I - Q.1: Answer any six of the following (12 Marks - 2 marks each)

1. Q1 Mention any Two responsibilities of an Interim Insolvency Resolution Professional?
2. Q2 Who is a judgment debtor.
3. Q3 Who is a financial service provider as per the IBC.
4. Q4 What are the limitations of the IBC for the Financial Creditors.
5. Q5 What is a Calm Period as per the provisions of the IBC.
6. Q6 Mention the essential features of a LLP as per the provisions of the IBC?
7. Q7 Who is a secured Creditor?
8. Q8 When can the Repayment Plan under the non corporate insolvency resolution process be implemented?
9. Q9 Mention the role of DRAT?
10. Q10 What is a going concern as per the provisions of the IBC?

SECTION II - Q.2: Answer any two of the following (12 Marks - 6 marks each)

1. Q11 Write a note on the Fresh Start Insolvency Resolution Process.
2. Q12 Write a short note on Registered Valuers.
3. Q13 Write a note on Information Utilities.
4. Q14 Write a short note on the first meeting of the Committee of Creditors.

SECTION III - Q.3: Answer any two of the following (12 Marks - 6 marks each)

1. Q15 Your junior comes to you to seek clarifications regarding the powers, scope and extent of jurisdiction of the NCLT and NCLAT under the IBC. Please clarify the same mentioning the respective provisions of the IBC. Also mention the relevant judgment of the Supreme Court on the matter.
2. Q16 What important provisions with respect to the various provisions of the IBC were provided by the Hon. Supreme Court in the landmark judgment of the Essar Steel India Limited V/s. Satish Kumar Gupta matter?
3. Q17 What important provisions with respect to the powers and functions of the NCLT were provided by the Supreme Court in the landmark judgment of the Innoventive Industries Limited V/s. ICICI Bank.
4. Q18 M/s. Rudra Private Limited has defaulted to make the payment of Rs. 2 crores to M/s. Anand Private Limited. Discuss whether a Demand Notice under section 8 of IBC, 2016 to M/s. Rudra Private Limited can be issued by an Advocate, before filing an application under section 9 of the IBC, 2016?

SECTION IV - Q.4: Answer any two of the following (24 Marks - 12 marks each)

1. Q19 Give a detailed note on the role, powers and functions of the various Adjudicating and Appellate Authorities as mentioned under the IBC.
2. Q20 Critically analyse the scope of the Insolvency and Bankruptcy Code of India. Discuss the objectives and need for the IBC to have been enacted in India and also as to how successful you think the IBC has been in managing to meet its objectives so far.
3. Q21 Give a detailed note on the valuation and liquidation process as mentioned under the IBC.
4. Q22 Write a detailed note on the powers, functions and constitution of the Committee of Creditors.

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