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
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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

MBA/Management CLAT/CE-Law Finance/CA
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