As per the Insolvency and Bankruptcy Code, who can

initiate the corporate insolvency resolution process in the case of a corporate debtor's default?

A Only a financial creditor Correct Answer Incorrect Answer

B Only an operational creditor Correct Answer Incorrect Answer

C Only the corporate debtor itself Correct Answer Incorrect Answer

D A financial creditor, an operational creditor, or the corporate debtor itself Correct Answer Incorrect Answer

E Only the Adjudicating Authority 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 in the manner as provided under this Chapter.

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