UPSC Prelims Practice Questions — NCLT panel to assess progress of Jaypee Infratech projects
Q1. The National Company Law Tribunal, which appointed the expert committee in February 2026 to assess progress of Jaypee Infratech projects, has been constituted under which one of the following provisions?
- A. Section 408 of the Companies Act, 2013
- B. Section 7 of the Insolvency and Bankruptcy Code, 2016
- C. Section 252 of the Companies Act, 2013
- D. Section 410 of the Companies Act, 2013
Q2. In the context of the Insolvency and Bankruptcy Code, 2016, as applied in the Jaypee Infratech case, the term "financial creditor" in relation to an allottee of a real-estate project refers to a person:
- A. to whom an amount has been raised from a real-estate allottee and is deemed to have the commercial effect of a borrowing
- B. who has taken possession of the housing unit but withheld the final instalment of the consideration
- C. whose dues are secured by a mortgage created over the project land in favour of the lender
- D. who has supplied construction goods or services to the corporate debtor under a works contract
Q3. The Insolvency and Bankruptcy Code, 2016, under which the Jaypee Infratech proceedings are being conducted, is administered by which one of the following Union Ministries?
- A. Ministry of Corporate Affairs
- B. Ministry of Finance
- C. Ministry of Housing and Urban Affairs
- D. Ministry of Law and Justice
Q4. How many members constitute the expert committee appointed by the NCLT in February 2026 to assess the progress of construction of Jaypee Infratech projects under the approved resolution plan?
- A. Two
- B. Three
- C. Five
- D. Seven