Current Affairs · Bills and Acts
According to the Select Committee report on the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, which significant procedural reform was recommended for insolvency appeals and resolution plans?
- 1Excluding registered valuers from the IBC framework
- 2Restricting CIRP to a single resolution applicant only
- 3Fixing a three-month time limit for NCLAT decisions and allowing multiple resolution plans✓
- 4Abolishing NCLAT jurisdiction over insolvency cases
Correct answer
Fixing a three-month time limit for NCLAT decisions and allowing multiple resolution plans
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