With reference to the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 which was promulgated recently, consider the following statements: 1. The Ordinance removes the threshold for certain classes of financial creditors, including allottees of real estate projects, for initiating the resolution process. 2. The Ordinance provides that the company will not be liable for any offence committed prior to the insolvency resolution process, if there is a change in the management or control of the company. 3. The Ordinance empowers the resolution professional to require suppliers to continue providing goods and services. Which of the above statements is/are correct? - Study24x7
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UPSC & State PSC
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With reference to the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 which was promulgated recently, consider the following statements: 1. The Ordinance removes the threshold for certain classes of financial creditors, including allottees of real estate projects, fo...

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A

1 and 2 only

B

2 and 3 only

C

1 and 3 only

D

1, 2 and 3

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