The Insolvency and Bankruptcy Code, 2016:
- envisages a regulatory framework in which the Bankruptcy Board regulates the functioning of insolvency professional agencies (IPAs), and the IPAs regulate the insolvency professionals (IPs)
- provides for time-bound (180 days) processes for insolvency resolution of companies and individuals
Which of the above statements is/are correct?
Both are correct statements
This question is a part of GKToday's Integrated IAS General Studies Module