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...

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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

Total Response

Question

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...

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

Edubabble LLP · Accepted Answer

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

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