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Consider the following statements:
Statement-I:
India has adopted the UNCITRAL Model Law on Cross-Border Insolvency to streamline international insolvency cases.
India has adopted the UNCITRAL Model Law on Cross-Border Insolvency to streamline international insolvency cases.
Statement-II:
The UNCITRAL Model Law on Cross-Border Insolvency emphasizes cooperation among courts and administrators across different countries.
The UNCITRAL Model Law on Cross-Border Insolvency emphasizes cooperation among courts and administrators across different countries.
Which one of the following is correct in respect of the above statements?
- a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
- b)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
- c)Statement-I is correct, but Statement-II is incorrect
- d)Statement-I is incorrect, but Statement-II is correct
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements:Statement-I:India has adopted the UN...
Analysis of the Statements
In evaluating the two statements regarding India's adoption of the UNCITRAL Model Law on Cross-Border Insolvency, we find that:
Statement-I: India and the UNCITRAL Model Law
- India has not formally adopted the UNCITRAL Model Law on Cross-Border Insolvency.
- While there have been discussions and proposals, there has yet to be a comprehensive legislative framework in place that fully integrates this model law into Indian insolvency practices.
Statement-II: Emphasis on Cooperation
- The UNCITRAL Model Law indeed emphasizes cooperation among courts and insolvency administrators across different jurisdictions.
- This aspect is crucial for dealing with cross-border insolvency cases effectively, allowing for smoother processes when a debtor has assets or creditors in more than one country.
Conclusion
- Since Statement-I is incorrect (India has not adopted the law), but Statement-II is correct (it highlights the importance of cooperation), the correct answer is option C: Statement-I is correct, but Statement-II is incorrect.
Final Summary
- Statement-I: Incorrect (India has not adopted the UNCITRAL Model Law).
- Statement-II: Correct (the law emphasizes international cooperation).
This leads to the conclusion that option C is the accurate choice regarding the relationship between the two statements.
In evaluating the two statements regarding India's adoption of the UNCITRAL Model Law on Cross-Border Insolvency, we find that:
Statement-I: India and the UNCITRAL Model Law
- India has not formally adopted the UNCITRAL Model Law on Cross-Border Insolvency.
- While there have been discussions and proposals, there has yet to be a comprehensive legislative framework in place that fully integrates this model law into Indian insolvency practices.
Statement-II: Emphasis on Cooperation
- The UNCITRAL Model Law indeed emphasizes cooperation among courts and insolvency administrators across different jurisdictions.
- This aspect is crucial for dealing with cross-border insolvency cases effectively, allowing for smoother processes when a debtor has assets or creditors in more than one country.
Conclusion
- Since Statement-I is incorrect (India has not adopted the law), but Statement-II is correct (it highlights the importance of cooperation), the correct answer is option C: Statement-I is correct, but Statement-II is incorrect.
Final Summary
- Statement-I: Incorrect (India has not adopted the UNCITRAL Model Law).
- Statement-II: Correct (the law emphasizes international cooperation).
This leads to the conclusion that option C is the accurate choice regarding the relationship between the two statements.
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Community Answer
Consider the following statements:Statement-I:India has adopted the UN...
Statement-I correctly states that India has not adopted the UNCITRAL Model Law on Cross-Border Insolvency. The statement accurately reflects the limited provisions and reliance on bilateral agreements for managing cross-border insolvency cases.
Statement-II incorrectly suggests that the UNCITRAL Model Law emphasizes cooperation among courts and administrators across different countries. While the model law does promote cooperation, it is not the primary emphasis but rather one of the key aspects of the framework.
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Consider the following statements:Statement-I:India has adopted the UNCITRAL Model Law on Cross-Border Insolvency to streamline international insolvency cases.Statement-II:The UNCITRAL Model Law on Cross-Border Insolvency emphasizes cooperation among courts and administrators across different countries.Which one of the following is correct in respect of the above statements?a) Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib) Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic) Statement-I is correct, but Statement-II is incorrectd) Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer?
Question Description
Consider the following statements:Statement-I:India has adopted the UNCITRAL Model Law on Cross-Border Insolvency to streamline international insolvency cases.Statement-II:The UNCITRAL Model Law on Cross-Border Insolvency emphasizes cooperation among courts and administrators across different countries.Which one of the following is correct in respect of the above statements?a) Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib) Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic) Statement-I is correct, but Statement-II is incorrectd) Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:Statement-I:India has adopted the UNCITRAL Model Law on Cross-Border Insolvency to streamline international insolvency cases.Statement-II:The UNCITRAL Model Law on Cross-Border Insolvency emphasizes cooperation among courts and administrators across different countries.Which one of the following is correct in respect of the above statements?a) Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib) Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic) Statement-I is correct, but Statement-II is incorrectd) Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:Statement-I:India has adopted the UNCITRAL Model Law on Cross-Border Insolvency to streamline international insolvency cases.Statement-II:The UNCITRAL Model Law on Cross-Border Insolvency emphasizes cooperation among courts and administrators across different countries.Which one of the following is correct in respect of the above statements?a) Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib) Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic) Statement-I is correct, but Statement-II is incorrectd) Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer?.
Consider the following statements:Statement-I:India has adopted the UNCITRAL Model Law on Cross-Border Insolvency to streamline international insolvency cases.Statement-II:The UNCITRAL Model Law on Cross-Border Insolvency emphasizes cooperation among courts and administrators across different countries.Which one of the following is correct in respect of the above statements?a) Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib) Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic) Statement-I is correct, but Statement-II is incorrectd) Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:Statement-I:India has adopted the UNCITRAL Model Law on Cross-Border Insolvency to streamline international insolvency cases.Statement-II:The UNCITRAL Model Law on Cross-Border Insolvency emphasizes cooperation among courts and administrators across different countries.Which one of the following is correct in respect of the above statements?a) Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib) Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic) Statement-I is correct, but Statement-II is incorrectd) Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:Statement-I:India has adopted the UNCITRAL Model Law on Cross-Border Insolvency to streamline international insolvency cases.Statement-II:The UNCITRAL Model Law on Cross-Border Insolvency emphasizes cooperation among courts and administrators across different countries.Which one of the following is correct in respect of the above statements?a) Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib) Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic) Statement-I is correct, but Statement-II is incorrectd) Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer?.
Solutions for Consider the following statements:Statement-I:India has adopted the UNCITRAL Model Law on Cross-Border Insolvency to streamline international insolvency cases.Statement-II:The UNCITRAL Model Law on Cross-Border Insolvency emphasizes cooperation among courts and administrators across different countries.Which one of the following is correct in respect of the above statements?a) Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib) Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic) Statement-I is correct, but Statement-II is incorrectd) Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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Here you can find the meaning of Consider the following statements:Statement-I:India has adopted the UNCITRAL Model Law on Cross-Border Insolvency to streamline international insolvency cases.Statement-II:The UNCITRAL Model Law on Cross-Border Insolvency emphasizes cooperation among courts and administrators across different countries.Which one of the following is correct in respect of the above statements?a) Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib) Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic) Statement-I is correct, but Statement-II is incorrectd) Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Consider the following statements:Statement-I:India has adopted the UNCITRAL Model Law on Cross-Border Insolvency to streamline international insolvency cases.Statement-II:The UNCITRAL Model Law on Cross-Border Insolvency emphasizes cooperation among courts and administrators across different countries.Which one of the following is correct in respect of the above statements?a) Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib) Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic) Statement-I is correct, but Statement-II is incorrectd) Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Consider the following statements:Statement-I:India has adopted the UNCITRAL Model Law on Cross-Border Insolvency to streamline international insolvency cases.Statement-II:The UNCITRAL Model Law on Cross-Border Insolvency emphasizes cooperation among courts and administrators across different countries.Which one of the following is correct in respect of the above statements?a) Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib) Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic) Statement-I is correct, but Statement-II is incorrectd) Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Consider the following statements:Statement-I:India has adopted the UNCITRAL Model Law on Cross-Border Insolvency to streamline international insolvency cases.Statement-II:The UNCITRAL Model Law on Cross-Border Insolvency emphasizes cooperation among courts and administrators across different countries.Which one of the following is correct in respect of the above statements?a) Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib) Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic) Statement-I is correct, but Statement-II is incorrectd) Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Consider the following statements:Statement-I:India has adopted the UNCITRAL Model Law on Cross-Border Insolvency to streamline international insolvency cases.Statement-II:The UNCITRAL Model Law on Cross-Border Insolvency emphasizes cooperation among courts and administrators across different countries.Which one of the following is correct in respect of the above statements?a) Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib) Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic) Statement-I is correct, but Statement-II is incorrectd) Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice UPSC tests.
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