Consider the following statements about issues faced by Insolvency and Bankruptcy Code 2016 1 ...........

Economic Affairs Industrial Sickness

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Consider the following statements about issues faced by Insolvency and Bankruptcy Code, 2016-

1. High haircuts in resolution process.

2. Promoters bidding for their own company.

3. It has created problems for home/property buyers

Which of the statement given above is / are correct?

1, 2 and 3

1 and 2 only

2 and 3 only

1 and 3 only

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Explanation:

High haircuts in resolution process as first resolution done by this code gave 90% haircut to a company. Promoters bidding for their own company and problems for home/property buyers as they don’t find any priority in the liquidation process are other concerns.