A financial creditor, FC through an assignment agreement, assigned here the debt to the X trust. X trust filed the petition for initiation of corporate Insolvency resolution process (CIRP) against Corporate debtor, CR. State the correct statement with respect to the competency of the X trust in the filing of the petition in the above situation- - Study24x7
Social learning Network

Login

New to Study24X7 ?

 Join Now
33 followers study24x7 09 Apr 2021 04:04 PM study24x7 study24x7

A financial creditor, FC through an assignment agreement, assigned here the debt to the X trust. X trust filed the petition for initiation of corporate Insolvency resolution process (CIRP) against Corporate debtor, CR. State the correct statement with respect to the competency of...

See more

A

X Trust is not a competent applicant as per section 6 of the IBC, 2016

B

X Trust is being authorized by the FC to file an application

C

X Trust in the capacity of financial creditor can file a valid petition.

D

None of the above

study24x7
Write a comment
Related Questions
500+   more Questions to answer
Most Related Articles