New Upcoming Legal Jobs Free Workshop March 11 at 5 PM. Register here

    Question

    In the context of the Insolvency and Bankruptcy Code,

    what action can a creditor take if they disagree with the decision made by the liquidator regarding the acceptance or rejection of claims?
    A The creditor has no recourse in this situation Correct Answer Incorrect Answer
    B The creditor can file a separate lawsuit in a civil court Correct Answer Incorrect Answer
    C The creditor can appeal to the National Company Law Tribunal Correct Answer Incorrect Answer
    D The creditor can submit the claim again with additional documentation Correct Answer Incorrect Answer

    Solution

    IBC Section 42 A creditor may appeal to the Adjudicating Authority against the decision of the liquidator accepting or rejecting the claims within fourteen days of the receipt of such decision.

    Practice Next