The question (15 marks)
Discuss the constitution, powers and functions of the Insolvency and Bankruptcy Board of India, and consider how far it is independent of the Central Government. (15 marks)
MU Module IV, head 4.1.
Plan your answer on paper before you look at the authorities — issue first, then the rule, then apply it to these facts.
It tests Unit 4 · The Institutional Framework of Bankruptcy Laws.
Authorities you will need
- Sections 188, 189 and 190 of the Code
- Section 196 of the Code
- Sections 225 to 229 of the Code
- Sections 239, 240 and 241 of the Code
How an answer is marked
A full-marks answer names the issue in one line, states the rule with its section, cites the authority, applies it to these facts and concludes — in that order. The app's model answer for this question is written in exactly that shape, with a checklist to mark your own attempt against.