Cross-border & group insolvency MCQs with Answers

The National Company Law Tribunal

The Central Government

The Reserve Bank of India

The Insolvency and Bankruptcy Board of India

Nothing, because the liquidation estate does not include assets situated outside India

Apply to the Adjudicating Authority to issue a letter of request to a competent court or authority there

Seize the vessel directly, with the help of the Indian mission in that country

Ask the Central Government to have the vessel sold through diplomatic channels

the NCLT may recognise foreign insolvency proceedings on its own motion, without rules

the Board may make regulations requiring foreign creditors to file claims in their home courts

the Central Government may prescribe rules on cross-border insolvency, including recognition and relief

the Board may recognise foreign main proceedings, which then bind the NCLT