New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Who is a Financial Creditor under

    IBC:
    A Any person to whom a financial debt is owed. Correct Answer Incorrect Answer
    B Any person who owes financial debt to another. Correct Answer Incorrect Answer
    C Any person that has a claim on the services of a second party. Correct Answer Incorrect Answer
    D Any person to whom a financial debt is owed and includes a person to whom such debt has been legally assigned or transferred to. Correct Answer Incorrect Answer

    Solution

    The Financial Creditor occupies an exalted position in the scheme of things – Only Financial Creditors are entitled to be members of the Committee of Creditors and will have the right to vote in the proceedings of Committee of Creditors including approving the Resolution Applicant / Resolution Plan and such other related matters. 

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