🚨 Prelim 2027 The Hindu, IE &PIB Microtheme: "Banking Regulations" Repeated 17 times in the UPSC Prelims
Consider the following statements regarding the concept of a haircut under the Insolvency and Bankruptcy Code, 2016:
1. The Code defines a haircut as the percentage reduction in the value of a creditor's admitted claim.
2. Once the required majority of creditors approves a repayment plan and the tribunal sanctions it, a dissenting creditor is bound by that plan.
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