Skip to content

CS Professional · Corporate Restructuring, Valuation and Insolvency · Role, Functions and Duties of IP, IRP and RP

In a pre-packaged insolvency resolution process of Delta Fabrics Pvt Ltd, the resolution professional wants to review the company's business operations and financial and operational payments before the pre-packaged insolvency commencement date. For what look-back period does Section 54F(3)(f) require him to collect this information?

The look-back period is the previous two years. Section 54F(3)(f) requires the resolution professional to collect information on business operations and financial and operational payments for two years before the pre-packaged insolvency commencement date.

  1. AThe previous one year
  2. BThe previous two yearsCorrect
  3. CThe previous three years
  4. DThe previous five years

Explanation

Section 54F(3)(f)(i) and (ii) refer to business operations and financial and operational payments for the previous two years from the pre-packaged insolvency commencement date. One, three and five years do not appear there.

Did you get it right without looking?

One question tells you little. A timed set on Role, Functions and Duties of IP, IRP and RP shows your real accuracy, how long you take and where you lose marks.

Practise Role, Functions and Duties of IP, IRP and RPFree diagnostic mock

More Role, Functions and Duties of IP, IRP and RP questions