Question

Who can initiate Corporate Insolvency Resolution Process as per IBC?

A Corporate Applicant Correct Answer Incorrect Answer
B Corporate Debtor and Financial Creditor Correct Answer Incorrect Answer
C Financial Creditor and Operational Creditor Correct Answer Incorrect Answer
D Financial Creditor, Operational Creditor and Corporate Applicant Correct Answer Incorrect Answer

Solution

Section 6-Persons who may initiate corporate insolvency resolution process: Where any corporate debtor commits a default, a financial creditor, an operational creditor, or the corporate debtor itself may initiate corporate insolvency resolution process in respect of such corporate debtor.

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