Which of the following has been appointed as an adjudicating authority for individual and partnership firms under Insolvency and Bankruptcy Code, 2016

Debt Recovery Tribunal

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National Company Law Tribunal

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National Financial Reporting Authority

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None of the above

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Solution

The correct option is A Debt Recovery Tribunal
Following has been appointed as an adjudicating authority for Insolvency and Bankruptcy Code, 2016:
DRT - Individuals and Partnerships.
NCLT - Companies and LLP.

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Similar questions

Q3. Consider the following statements about Insolvency and Bankruptcy Code 2016:

1. The Code highlights insolvency processes for individuals, companies and partnership firms.

2. Under IBC debtor and creditor both can start ‘recovery’ proceedings against each other.

Select the correct answer using the codes given:

Q10. Consider the following statements regarding the Insolvency and Bankruptcy Code, 2016.

i. The Code outlines separate insolvency resolution processes for individuals, companies and partnership firms.

ii. The process has to be initiated by the debtor only.

iii. Insolvency and Bankruptcy Board of India was established to oversee the insolvency proceedings in the country and regulate the entities registered under it.

Q46. Under the Bankruptcy Code 2016, the adjudicating authority for bankruptcy procedures is:

दिवालियापन संहिता 2016 के अन्तर्गत, दिवालियापन प्रक्रियाओं के लिए सहायक प्राधिकरण है:

Q. Consider the following statements about the insolvency and Bankruptcy Code

2016

1

. The adjudicating authority of the IBC code is RBI.

2

. IBC code is applicable only to public sector banks.

3

. IBC code gives power to the RBI to begin insolvency proceedings against defaulters.
Which of the given statement(s) is/are correct?

Q. Who has been appointed as a Chairperson of Insolvency and Bankruptcy Board of India for a period of five years?

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Which of the following has been appointed as an adjudicating authority for individual and partnership firms under Insolvency and Bankruptcy Code, 2016

The correct option is A Debt Recovery TribunalFollowing has been appointed as an adjudicating authority for Insolvency and Bankruptcy Code, 2016: DRT - Individuals and Partnerships.​ NCLT - Companies and LLP.​

The correct option is A Debt Recovery Tribunal
Following has been appointed as an adjudicating authority for Insolvency and Bankruptcy Code, 2016:
DRT - Individuals and Partnerships.
NCLT - Companies and LLP.