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    Question

    Under IBC, who can initiate insolvency proceedings

    against a corporate debtor?
    A Only creditors Correct Answer Incorrect Answer
    B Only the debtor itself Correct Answer Incorrect Answer
    C Only financial institutions Correct Answer Incorrect Answer
    D Financial creditors, operational creditors, or the debtor itself Correct Answer Incorrect Answer
    E Only the NCLT Correct Answer Incorrect Answer

    Solution

    Under the Insolvency and Bankruptcy Code (IBC), any of these parties may file an application before the National Company Law Tribunal (NCLT) to initiate insolvency proceedings.

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