The fast track corporate insolvency resolution process cannot be commenced in respect of specif...........

Professional Legal Knowledge IBC act

The fast track corporate insolvency resolution process cannot be commenced in respect of specified corporate debtors based on which criteria

Assets and Income

Class of Creditors

Amount of debts

Share capital and Net-worth

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Explanation:

- Option 1: Assets and Income

This criterion focuses on the total assets owned and income generated by the corporate debtor. It might determine eligibility based on financial size or earnings.

- Option 2: Class of Creditors

This criterion considers which group or class of creditors is involved. It might affect the eligibility if specific creditors are prioritized or hold certain rights.

- Option 3: Amount of Debts

This focuses on the total debt amount owed by the corporate debtor. It can be a significant factor in determining the seriousness and scope of the insolvency process.

- Option 4: Share Capital and Net-worth

This criterion looks at the financial health related to the company's share capital and net worth. It might influence eligibility based on financial stability or capital structure.

Answer: Option 3 – Amount of debts