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      Question

      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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