Question

Name the bill that was passed in the Parliament that seeks to clarify that allottees under a real estate project should be treated as financial creditors.
A.Recovery of Non-Performing Assets Bill, 2017
B.Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018
C.Insolvency and Bankruptcy Code (First Amendment) Bill, 2017
D.Recovery of Non-Performing Assets (Amendment) Bill, 2018

Answer 1

The answer is Option B Insolvency and Bankrupt Code (Second Amendment) Bill, 2018.

Answer 2

Answer:

Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018 is the correct option.

Parliament has surpassed the Insolvency and bankruptcy Code (second amendment) bill,2018 with the Rajya Sabha's approval. The bill seeks to make clear that allottees under a actual property assignment ought to be treated as financial lenders. domestic buyers will get due illustration within the Committee of lenders and make them an essential part of decision making method. putting in place of a special dispensation for small quarter companies has also been made.