The Bankruptcy Legislative Reforms Committee (BLRC) was set up in which of the following years?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 2014.
The Bankruptcy Legislative Reforms Committee (BLRC) was set up in 2014. Established by the Government of India, the BLRC was tasked with reviewing and recommending changes to the insolvency and bankruptcy laws in the country. Its primary aim was to improve the efficiency and effectiveness of the bankruptcy process, facilitating faster resolution and recovery of distressed assets. The committee's recommendations led to the enactment of the Insolvency and Bankruptcy Code (IBC) in 2016, which reformed the insolvency resolution framework in India.