LLB 3 Years Sem 4 Insolvency Nov 2023 Bankruptcy 60/40 Question Paper - Mumbai University | munotes

Questions asked in this paper

• on the answer sheets

1. Q1 Answer Any Six of the following : (6 X 2 = 12 Marks)
   • a. Mention any Two responsibilities of an Interim Insolvency Resolution Professional ?
   • b. Who is a judgment debtor
   • c. Who is a financial service provider as per the IBC
   • d. What are the limitations of the IBC for the Financial Creditors
   • e. What is a Calm Period as per the provisions of the IBC
   • f. Mention the essential features of a LLP as per the provisions of the IBC ?
   • g. Who is Creditor ?
   • h. When can the Repayment Plan under the non corporate insolvency resolution process be
   • i. Mention the role of DRAT ?
   • j. What is a going concern as per the provisions of the IBC ?
2. Q2 Answer Any Two of the following : (2 X 6 = 12 Marks)
   • a. Write a note on the Fresh Start Insolvency Resolution Process
   • b. Write a short note on Registered Valuers
   • c. Write a note on Information Utilities
   • d. Write a short note on the first meeting of the Committee of Creditors
3. Q3 Answer Any Two of the following : (2 X 6 = 12 Marks)
   • a. 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
   • b. 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
   • c. 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
   • d. 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?
4. Q4 Answer Any Two of the following : (2 X 12 = 24 Marks)
   • a. Give a detailed note on the role, powers and functions of the various Adjudicating and Appellate Authorities as mentioned under the IBC
   • b. 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
   • c. Give a detailed note on the valuation and liquidation process as mentioned under the IBC
   • d. Write a detailed note on the powers, functions and constitution of the Committee of
   • a. tere ae
   • b. V/s Tar oT. at feats AAT HAT

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