Current Affairs Exam  >  Current Affairs Questions  >  With reference to the Section 32 A of the Ins... Start Learning for Free
With reference to the Section 32 A of the Insolvency and Bankruptcy Code (IBC), consider the following statements:
1. The Supreme Court held that the successful bidders for a corporate debtor under the IBC would be immune from any investigations being conducted either by any investigating agencies such as the Enforcement Directorate (ED) or other statutory bodies such as SEBI.
2. The protection to successful bidders and the assets of a corporate debtor are provided by the rules under Section 32A of the IBC.
Which of the statements given above is/are correct?       
  • a)
    1 only        
  • b)
    2 only        
  • c)
    Both 1 and 2        
  • d)
    Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
With reference to the Section 32 A of the Insolvency and Bankruptcy Co...
The Supreme Court recently upheld the validity of Section 32 A of the Insolvency and Bankruptcy Code (IBC).
  • The Supreme Court held that the successful bidders for a corporate debtor under the IBC would be immune from any investigations being conducted either by investigating agencies such as the Enforcement Directorate (ED) or other statutory bodies SEBI.
  • While upholding the validity of Section 32A of IBC, the court said it was important for the IBC to attract bidders who would offer reasonable and fair value for the corporate debtor to ensure the timely completion of corporate insolvency resolution process (CIRP).
  • The rules provide the protection to successful bidders and a corporate debtor's assets under Section 32A of the IBC.
  • However, the apex court has also said that such immunity would be applicable only if there is an approved resolution plan and a change in the management control of the corporate debtor.
  • Since the IBC came into being in 2016, the implementation of resolution plan of several big ticket cases has been delayed because of challenges mounted by its own agencies and regulators.
  • With the Supreme Court upholding Section 32 A's validity, these cases are expected to be completed soon.
  • This will give confidence to other bidders to proceed with confidence while bidding on such disputed companies and their assets.
     
View all questions of this test
Explore Courses for Current Affairs exam

Top Courses for Current Affairs

With reference to the Section 32 A of the Insolvency and Bankruptcy Code (IBC), consider the following statements:1. The Supreme Court held that the successful bidders for a corporate debtor under the IBC would be immune from any investigations being conducted either by any investigating agencies such as the Enforcement Directorate (ED) or other statutory bodies such as SEBI.2. The protection to successful bidders and the assets of a corporate debtor are provided by the rules under Section 32A of the IBC.Which of the statements given above is/are correct? a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
Question Description
With reference to the Section 32 A of the Insolvency and Bankruptcy Code (IBC), consider the following statements:1. The Supreme Court held that the successful bidders for a corporate debtor under the IBC would be immune from any investigations being conducted either by any investigating agencies such as the Enforcement Directorate (ED) or other statutory bodies such as SEBI.2. The protection to successful bidders and the assets of a corporate debtor are provided by the rules under Section 32A of the IBC.Which of the statements given above is/are correct? a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to the Section 32 A of the Insolvency and Bankruptcy Code (IBC), consider the following statements:1. The Supreme Court held that the successful bidders for a corporate debtor under the IBC would be immune from any investigations being conducted either by any investigating agencies such as the Enforcement Directorate (ED) or other statutory bodies such as SEBI.2. The protection to successful bidders and the assets of a corporate debtor are provided by the rules under Section 32A of the IBC.Which of the statements given above is/are correct? a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Section 32 A of the Insolvency and Bankruptcy Code (IBC), consider the following statements:1. The Supreme Court held that the successful bidders for a corporate debtor under the IBC would be immune from any investigations being conducted either by any investigating agencies such as the Enforcement Directorate (ED) or other statutory bodies such as SEBI.2. The protection to successful bidders and the assets of a corporate debtor are provided by the rules under Section 32A of the IBC.Which of the statements given above is/are correct? a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
Solutions for With reference to the Section 32 A of the Insolvency and Bankruptcy Code (IBC), consider the following statements:1. The Supreme Court held that the successful bidders for a corporate debtor under the IBC would be immune from any investigations being conducted either by any investigating agencies such as the Enforcement Directorate (ED) or other statutory bodies such as SEBI.2. The protection to successful bidders and the assets of a corporate debtor are provided by the rules under Section 32A of the IBC.Which of the statements given above is/are correct? a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Current Affairs. Download more important topics, notes, lectures and mock test series for Current Affairs Exam by signing up for free.
Here you can find the meaning of With reference to the Section 32 A of the Insolvency and Bankruptcy Code (IBC), consider the following statements:1. The Supreme Court held that the successful bidders for a corporate debtor under the IBC would be immune from any investigations being conducted either by any investigating agencies such as the Enforcement Directorate (ED) or other statutory bodies such as SEBI.2. The protection to successful bidders and the assets of a corporate debtor are provided by the rules under Section 32A of the IBC.Which of the statements given above is/are correct? a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of With reference to the Section 32 A of the Insolvency and Bankruptcy Code (IBC), consider the following statements:1. The Supreme Court held that the successful bidders for a corporate debtor under the IBC would be immune from any investigations being conducted either by any investigating agencies such as the Enforcement Directorate (ED) or other statutory bodies such as SEBI.2. The protection to successful bidders and the assets of a corporate debtor are provided by the rules under Section 32A of the IBC.Which of the statements given above is/are correct? a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?, a detailed solution for With reference to the Section 32 A of the Insolvency and Bankruptcy Code (IBC), consider the following statements:1. The Supreme Court held that the successful bidders for a corporate debtor under the IBC would be immune from any investigations being conducted either by any investigating agencies such as the Enforcement Directorate (ED) or other statutory bodies such as SEBI.2. The protection to successful bidders and the assets of a corporate debtor are provided by the rules under Section 32A of the IBC.Which of the statements given above is/are correct? a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of With reference to the Section 32 A of the Insolvency and Bankruptcy Code (IBC), consider the following statements:1. The Supreme Court held that the successful bidders for a corporate debtor under the IBC would be immune from any investigations being conducted either by any investigating agencies such as the Enforcement Directorate (ED) or other statutory bodies such as SEBI.2. The protection to successful bidders and the assets of a corporate debtor are provided by the rules under Section 32A of the IBC.Which of the statements given above is/are correct? a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice With reference to the Section 32 A of the Insolvency and Bankruptcy Code (IBC), consider the following statements:1. The Supreme Court held that the successful bidders for a corporate debtor under the IBC would be immune from any investigations being conducted either by any investigating agencies such as the Enforcement Directorate (ED) or other statutory bodies such as SEBI.2. The protection to successful bidders and the assets of a corporate debtor are provided by the rules under Section 32A of the IBC.Which of the statements given above is/are correct? a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice Current Affairs tests.
Explore Courses for Current Affairs exam

Top Courses for Current Affairs

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev