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    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?
    A Financial creditor Correct Answer Incorrect Answer
    B Financial debtor Correct Answer Incorrect Answer
    C Assignee Correct Answer Incorrect Answer
    D Assignor Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    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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