ANSWER: C
ANSWER: A
ANSWER: B
ANSWER: A
ANSWER: A
ANSWER: A
ANSWER: B
ANSWER: B
On 28th July, 2021, Lok Sabha has passed the Insolvency and Bankruptcy Code (Amendment) Bill 2021. This Bill replaces the Insolvency and Bankruptcy Code (Amendment) Ordinance 2021 which was implemented on 4th April, 2021.
About:
What is pre-packed insolvency resolution mechanism?
Pre-packed insolvency resolution mechanism is a procedure in which a resolution arrangement is decided upon between the lender and the debtor before approaching the NCLT for receiving an approval. Under this pre-pack framework, a debtor will initiate and participate in the resolution proceedings in tandem with the lender. This is done through an informal process that helps in avoiding costly and lengthy court procedures.
Corporate Insolvency Resolution Process (CIRP)
As stated in the Insolvency and Bankruptcy Code (IBC), under the existing corporate insolvency resolution process (CIRP), a maximum number of 270 days is provided for the resolution process to be completed. To take control of the administration a resolution professional (RP) is appointed and the promoters have to step down. The appointed RP then manages the resolution and bidding process, which generally takes several months. Under the new pre-pack scheme, the time limit for the resolution will be reduced and the participants will get 90 days to submit resolution plans and NCLT will to approve them in another 30 days.
Rule for MSME
An MSME not having met its Rs 10 lakh payment obligation, could either initiate a pre-pack bankruptcy resolution scheme on its own with the approval of the lenders or the lenders who are representing the 66% debt of the business could themselves initiate the process.
ANSWER: C
World’s first affordable as well as effective new drug for hepatitis C has been registered by Malaysia. This new drug offers hope for accessible treatment to the millions of people around the world who are suffering from this disease.
About:
Clinical trials
Clinical trials were conducted in Thailand and Malaysia. 300 people joined the clinical trial. One patent who was suffering from this disease, three months after he began the treatment, showed no trace of the virus. The ravidasvir plus sofosbuvir trial reports were published in the journal Lancet in the month of April. The reports showed that the drug combination is highly effective and cures patients in 97% of the cases.
Conclusion
Cheaper treatment of this disease is going to help the sufferers and the countries are also being encouraged to conduct more testing for hepatitis. The WHO plans to eliminate this disease by reducing new infections by 90% and deaths by 65 % by the year 2030
ANSWER: B
Raja Mircha, also known as Naga King Chilli, was exported to London from Nagaland. This the first time Raja Mirch is being exported from the state of Nagaland that too during the the Covid-19 pandemic along with a drought-like situation in Nagaland.
Key Points
About Scoville Heat Units
Scoville Heat Units is the measurement that is done to measure hotness of a pepper or a hot sauce. It is generally done by checking the number of times capsaicin needs to be dissolved in water filled with sugar. The number of Scoville Heat Units (SHU) in hot sauce or a pepper indicates the amount of capsaicin present in the pepper or the hot sauce. The higher the rating the hotter is the pepper.
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