Preliminary Exam General Studies July 06, 2024

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MCQ
GS

1. Which of the statements given above is/are incorrect w.r.t. The Insolvency and Bankruptcy Code?

1. It has the Pre-packaged Insolvency Resolution Process (PIRP), also called ‘pre-packs’ as an insolvency resolution mechanism for Micro, Small and Medium Enterprises (MSMEs).

2. It lacks provisions to deal with cross border insolvency.

3. Growing haircuts contribute to its success to achieve its goals.