Question
A person to whom financial debt has been legally
assigned or transferred to, shall be termed in the Insolvency and Bankruptcy Code (IBC) in India as?Solution
In the context of the Code referred to in the question, a person to whom financial debt has been legally assigned or transferred is termed as a financial creditor. The Insolvency and Bankruptcy Code (IBC) in India defines a financial creditor as any person to whom a financial debt is owed. When a financial debt is legally assigned or transferred to another party, that party becomes the financial creditor.
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