LL.B. (Three Years) Sem 4 Bankruptcy Laws May 2026 75/25 Question Paper - Mumbai University | munotes

Questions asked in this paper

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

1. Q1 Explain the role of D.R.A.T as per the provisions of the I.B.C, 2016?
2. Q2 What is the "Insolvency Resolution Process Period" as per the I.B.C, 2016?
3. Q3 Who is a Designated Partner?
4. Q4 What is Moratorium?
5. Q5 What do you understand by 'haircut' in reference to proceedings of Insolvency and Bankruptcy Resolution?
6. Q6 What is a Limited Liability Partnership?
7. Q7 What is Onerous Property?
8. Q8 What do you understand by the term 'Going Concern'?

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

1. Q9 Secured and Unsecured Creditors
2. Q10 Registered Valuers
3. Q11 First Meeting of the Committee of Creditors
4. Q12 Fresh Start Process

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

1. Q13 Fast Track Process is available under the I.B.C, 2016. (i) Who can apply for Fast Track Process? What specific conditions are stipulated to invoke the Fast Track Process under the I.B.C? (ii) Such an Application needs to be made by whom and to whom?
2. Q14 A Company is undergoing Liquidation. Investigations reveal that within a period of One year from the date of commencement, the Company had transferred its immoveable property at Rajgaon to an Operational Creditor, Alka, whose claim amounts to Rs. 43 Lakhs. The Rajgaon property has a market value of Rs. 32 Lakhs. (i) Elaborately discuss the Duties and Powers of the Liquidator in this situation? (ii) Decide the various options available to the Committee of Creditors in such a case?
3. Q15 A Public Limited Company engaged in the business of Commercial Air Transport suspends all its flight operations due to a major financial crisis. (i) Discuss the Rights and Liabilities of the passengers who had booked and paid for confirmed Air Tickets of the Company? (ii) What are the various classes of Creditors as per the provisions of the Insolvency and Bankruptcy Code?
4. Q16 PR Limited, a retail Company, has struggled with declining sales and mounting debts. The company has defaulted on loan repayments to several creditors, including banks and suppliers. One of the major creditors, Z Bank, decides to initiate bankruptcy proceedings against PR Limited under the I.B.C 2016. The National Company Law Tribunal admits the application and declares a moratorium. (i) Specify the various actions that shall be prohibited against PR Limited during the moratorium period? (ii) Discuss the various circumstances under which the moratorium against PR Limited can be lifted.

SECTION IV - Q.4: Answer any three of the following (39 Marks - 13 marks each)

1. Q17 Discuss the various provisions related to the Composition, Functions and Powers of the I.B.B.I.
2. Q18 Elaborately explain the salient features concerning obtaining Bankruptcy Order for individuals and Partnership under the Insolvency and Bankruptcy Code, 2016?
3. Q19 Elaborately discuss and distinguish between the various Powers and Functions of Interim Resolution Professional and Insolvency Resolution Professional in India.
4. Q20 Critically analyse the various provisions related to the nature, scope and contents of Resolution Plan as provided under the I.B.C.
5. Q21 Critically analyse the impact of the I.B.C, 2016 on the Indian economy. How has it changed the approach to handling Financial Distress and Debt Recovery in India? Cite significant cases where the Insolvency and Bankruptcy Code has been used to successfully resolve issues related to Debt Recovery in India.

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