LL.B. (Three Years) Sem 4 Bankruptcy Laws Jun 2019 Question Paper - Mumbai University | munotes

Questions asked in this paper

SECTION I - Q.1: Answer briefly all questions (20 Marks - 2 marks each)

1. Q1 Who is a bankruptcy trustee?
2. Q2 Who is an indigent person?
3. Q3 What is a resolution plan?
4. Q4 What does IBC seek to achieve?
5. Q5 What are core services?
6. Q6 What is operational debt?
7. Q7 What is the time period for completion of fast Track corporate insolvency resolution process?
8. Q8 What is 'demand notice' under S.8 of IBC?
9. Q9 What is constitutional document in relation to a corporate person?
10. Q10 Who is a designated partner?

SECTION II - Q.2: Write short notes on any Four (20 Marks - 5 marks each)

1. Q11 Insolvency Professional Agency
2. Q12 After acquired property
3. Q13 Voluntary Liquidation of Corporate Persons
4. Q14 Amendments to IBC
5. Q15 Committee of Creditors
6. Q16 NCLT & NCLAT

SECTION III - Q.3: Answer any Two (12 Marks - 6 marks each)

1. Q17 A corporate person is in great financial difficulty. Your advice is sought regarding applying for corporate insolvency resolution process. (a) How can corporate person itself apply? Explain the steps to be taken. (b) Where is the application to be made?
2. Q18 IBC applies to a variety of persons in relation to their insolvency, liquidation etc. (a) To whom does this code apply? (b) How is 'person' defined in S.3?
3. Q19 A public limited company engaged in air transport suspend all flight operations due to major financial crisis. (a) Are passengers who booked air tickets creditors of the company? Explain in the light of the two classes of creditors. (b) Who can initiate corporate insolvency resolution against the company?

SECTION IV - Q.4: Answer in detail, any Four (48 Marks - 12 marks each)

1. Q20 Explain the procedure for filing pauper suits.
2. Q21 Examine the powers & functions of IBBI.
3. Q22 Discuss fresh start process. Distinguish it from insolvency resolution process.
4. Q23 Explain the process from liquidation order to dissolution of a corporate debtor.
5. Q24 Discuss the IBC provisions relating to administration & distribution of the estate of the bankrupt.
6. Q25 Explain the provisions relating to information memorandum and resolution plan in the matter of corporate insolvency resolution.

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