Question

    Where any person is a financial creditor as well as an

    operational creditor such person shall_______________________
    A Be considered to be financial creditor to the extent of the operational debt owed by the corporate debtor to such creditor Correct Answer Incorrect Answer
    B Be a financial creditor to the extent of the financial debt owed by the corporate debtor and be included in the committee of creditors Correct Answer Incorrect Answer
    C Be at the discretion to be either financial or operational creditor to the extent of entire debt owned by the corporate debtor to such creditor Correct Answer Incorrect Answer
    D Either a or b or c Correct Answer Incorrect Answer
    E Be the creditor as the committee of creditors may decide by a fifty-one per centage of voting Correct Answer Incorrect Answer

    Solution

    IBC Section 21-Committee of creditors: (4) Where any person is a financial creditor as well as an operational creditorтАФ (a) such person shall be a financial creditor to the extent of the financial debt owed by the corporate debtor and shall be included in the committee of creditors, with voting share proportionate to the extent of financial debts owed to such creditor; (b) such person shall be considered to be an operational creditor to the extent of the operational debt owed by the corporate debtor to such creditor.

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