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What is moratorium period for small and startup firms under Insolvency and Bankruptcy Code 2016?
  • a)
    45 days
  • b)
    75 days
  • c)
    90 days
  • d)
    120 days
  • e)
    180 days
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What is moratorium period for small and startup firms under Insolvency...
Insolvency and Bankruptcy Code 2016 proposes a paradigm shift from the existing 'Debtor in possession' to a 'Creditor in control' regime. 
The code aims to address insolvencies in a strict time-bound manner in which the evaluation and viability determination must be completed within 180 days.
A moratorium period of 180 days (extendable up to 270 days) is applicable for the big enterprises. 
A moratorium period for small and startup firms under Insolvency and Bankruptcy Code 2016 is 90 days which can be extended for 45 days.
This act proposed a qualified Insolvency Professional (IP) as intermediaries to oversee the process of the procedures.
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What is moratorium period for small and startup firms under Insolvency and Bankruptcy Code 2016?a)45 daysb)75 daysc)90 daysd)120 dayse)180 daysCorrect answer is option 'C'. Can you explain this answer?
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